Ecclestone: The plan is to reward budget cap whistle-blowers with €1 million

Bernie Ecclestone has plans to deal with over expenditure in F1

Bernie Ecclestone has plans to deal with over expenditure in F1

Formula 1 supremo Bernie Ecclestone has revealed that Formula 1 authorities intend offering a reward of €1-million to whistle-blowers who provide evidence that teams are spending beyond the agreed $200-million (€146 million) when the sport’s budget cap comes into effect in 2015.

Ecclestone told Daily Express, “The plan under consideration is to give €1-million ($1.4 million) to any whistle-blower whose knowledge is proven to be accurate. We will then say to the team that the following year you will lose three of the maximum points you have scored. Then let’s see if they want to cheat.”

Last year the FIA announced that budget caps to curb high spending in Formula 1, where some teams are said to be spending around twice as much as the proposed cap.

FIA president Jean Todt said in December last year, “We need to focus on the problem of costs at all levels of motor sport, not only Formula 1.”

Is current F1 spending money down the drain?

Is current F1 spending money down the drain?

After the Paris meeting of the sport’s strategy group and the Formula 1 Commission, and with Todt declaring a “mandate”, the sport’s governing body said that the “principle of a global cost cap has been adopted” for Formula 1.

“The limit will be applied from January 2015,” the FIA stated.

“We have approved the budget cap,” Ecclestone. “It is going to happen. Everyone agreed to $200-million. What hasn’t been agreed is what is in the $200-million (€146 million). Unless we include everything, I am sure people will find ways around it. It’s going to be difficult.”

The whistle-blower reward is not limited only to team members who provide evidence of over-spending by teams, but to anyone who can provide verifiable proof. (G247)

Subbed by AJN.

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