Ecclestone says teams would waste more if they earned more

Bernie Ecclestone

Bernie Ecclestone

Bernie Ecclestone insists that Formula 1 teams would simply “waste more money” if he agreed to up their income.

Amid reports that only Red Bull, McLaren, Ferrari and Mercedes are not having financial troubles at present, backmarker Marussia complained that Ecclestone is not providing a “level playing field” for the smallest team.

“We have a suitably obscene amount of money to go motor racing with,” team president Graeme Lowdon told the Guardian, “but nowhere near the levels of the other teams.

“If we had another couple of tenths in the car, we would be troubling some pretty big names ahead of us, who have been in the sport for a long time.”

In a big blow to Marussia this year, Ecclestone limited official prize money to just the top ten constructors, while taking away the $10 million per year bonus to the newest teams.

But F1 chief executive Ecclestone told Switzerland’s Blick newspaper: “I could give all the teams another $20 million. But after a month, there’d be nothing left.” (GMM)

Subbed by AJN.

  • Richard Piers

    The man’s gone bonkers. Any old excuse for augmenting the pension fund will do. That’s exactly what we have all been paying for, not tucked up in various disinterested parties back pockets. How arrogant !

  • B@rney

    Says the man whose jobless daughters each live in their own £100 million mansion in Beverly Hills with every conceivable luxury, to include live-in staff for their yappy little lap dogs, all paid for with blood the chrome gnome has sucked out of the sport.

    Bernie is famous for promoting new technical regulations to reduce the costs of racing in F1 (but which also rob the sport of its technical superiority), then he whittles away at the payouts to the teams. In the end, the one whose wealth increases most dramatically …is Bernie.