Schumacher: Formula 1 financial situation alarming

Michael Schumacher

Michael Schumacher

Formula 1 legend Michael Schumacher has admitted to  concern about the sport’s current financial health, or rather, the lack thereof.

As teams prepare for the even more expensive 2014 regulations, Lotus and Sauber have already been struggling to pay their drivers and some of their suppliers this season.

Amid reports of a possible Marussia-Sauber merger over the forthcoming winter, it is possible that the grid could shrink to just ten teams – and twenty cars for 2014.

Schumacher, the most successful driver in grand prix history, admitted that he is worriedly watching the situation from the sidelines.

“It is really alarming,” the former Ferrari and Mercedes driver told Bild newspaper. “Financially it has become a very difficult situation, showing that even Formula 1 is not immune.”

44-year-old German Schumacher, however, has no such money worries, having sat atop the tree as Formula 1’s highest-earning driver for many years at Ferrari.

Indeed, now retired, he had been speaking about Formula 1’s financial troubles from Frankfurt, where he had travelled in his private jet to collect an original painting called ‘Boxenstopp’ for €3,500. (GMM)

Subbed by AJN.


Subbed by AJN.

  • captain tortuga

    people with private jets are not ‘legends’ .. they are rude, inconsiderative idiots, usually very narcissistic, and have lost any connection with reality. all is accounted for by Ze Zerman..

    (and yes, you guessed right, i don’t MSC, or Jerry’s in general)

  • Bec

    If F1 continues the trend in hiding away races behind pay walls, sponsorship AVE will continue to decline, team revenue will continue to decline, and more teams will fold.

  • Mike500

    captain tortuga, seeing how MSC’s net worth has surpassed £500m a good while ago, it’s hardly fitting for him to buy a seat with Ryanair and wait in the check-in for hours while being mobbed by fans. It’s not rude or inconsiderative (sic) for people of a certain wealth and status to use private jets. No, with their busy schedules and commitments, it would be stupid not to use private jets, which saves hours of time compared to a normal flight.

    As for having lost any connection with reality, you obviously don’t know a whole lot about the man, just your prejudice isn’t enough to judge him.

    Lastly, i’m slightly disgusted to see such backwards-thinking WWII terminology referring to Germans. At least i think that’s the time when sensible people last used “Jerry” and “Tommy”.

  • fokkinmoron

    The people who complain about private jets are the ones who know they will never be as successful as those who have them.