Ecclestone says Sauber not the only F1 team suffering financially

Bernie Ecclestone with Monisha Kaltenborn MD

Bernie Ecclestone with Monisha Kaltenborn MD

Formula 1 supremo Bernie Ecclestone has ruled out intervening directly to help the financially strapped Sauber team survive, and admits that there are other teams surviving beyond their means in the sport.

In the not-too-distant past, Ecclestone has been known for bailing out struggling teams.

But amid reports that the Swiss team is now struggling to survive, Ecclestone said: “We have agreements that require us to treat all the teams equally.”

The 82-year-old told Swiss broadcaster SRF that “one solution” for the Hinwil based team would be to sell up.

“They’re a good team,” said Ecclestone, “and I’m sure [that] there is more than one possible buyer.

“I don’t want to imagine Formula 1 without Sauber. Ideally, they will find new sponsors in the long term, but even companies who are willing to support them in the short term would be fine,” the F1 chief executive added.

“The team deserves to be helped,” said Ecclestone. “I don’t know exactly what their financial situation is, but I know it’s not as good as it should be.”

He said that Sauber might not be the only team in trouble.

“There are others,” said the Briton, “that are spending more money than they have.” (GMM)

Subbed by AJN.

Content on by: staff & contributors, Reuters syndication, GMM service, Getty Images, Formula 1 teams, sponsors & organisations.

  • Bec

    Sponsorship revenue across all teams has suffered as F1 has begun to be moved behind pay walls, and viewers have subsequently drifted away.

    Lotus for example has seen its revenue drop by 19.8% due to lower sponsorship.

  • =El Presidente=

    I think it is a good idea to make it possible for companies to sponsor F1. Meaning that every car has to mandatory give up a certain portion of the car for sponsors, and the revenues of the sponsor-money should be Equally divided among the teams.

    this way they can possibly create a solid ‘base-funding’ that will help teams sustain a better continuity financially to be able te stay in F1.

    It will also not change the pecking-order, because all teams will still have their own resources, which will be bigger for some teams then others.

  • whodunnit

    @=El Presidente=,

    In case u already didnt know, such an arrangement is already in place….team give their entire portion(of their cars) to the tv cameras and get a share in the broadcasting revenue.

    In any case, why would a team like redbull, who can grab a whole sponsor, be willing to let it sponsor the entire F1 and then only get a ‘portion’ of the ad revenue??

  • no physical Exam life insurance

    Greetings from Charmoille, Switzerland.Does your blog get a lot of junk posts?
    I’m a blogger too and I’m wondering how many people have the exact same problem.

    A lot of us have created some beneficial processes and
    we are looking to swap techniques with other people.
    If you’d be interested, don’t hesitate to drop me a line via email.