Symonds: It’s costs that are going to kill Formula 1 and we need to face up to this 5 April, 2014 Pat Symonds Formula 1 needs to focus on the positives of its new turbo era rather than talking itself down, Williams technical head Pat Symonds said on Friday, but at the same time warns that spirllaing costs will kill the sport. Speaking ahead of Sunday’s Bahrain Grand Prix, Symonds warned that criticism of the rule changes from within the sport risked a backlash similar to that faced by British jeweller Gerald Ratner in 1991. Ratner wiped $829.50 million off his firm’s value with a speech to business leaders that mocked both his merchandise and customers’ taste. In one of the great corporate blunders, he boasted his company’s earrings were cheaper than a prawn sandwich “but probably wouldn’t last as long” and called a cheap set of decanters and glasses “total crap”. Symonds said that Formula One should not follow that path. “We are in a good place and as a business we should focus on the positives,” he told a news conference after Friday Practice. Start of the malaysian Grand Prix “I think many people in the UK will remember a guy called Ratner who basically killed his business by negative comments on it. We should be positive. We’ve done something good and we should tell the world about it.” Formula One ditched the old 2.4 litre V8 engines at the end of last season and replaced them with new 1.6 litre V6 turbo Power Units with systems harnessing exhaust gases and kinetic energy from the brakes. The result has been much quieter cars that must now complete races with 30 percent less fuel in a bid to become more environmentally friendly and road relevant. Critics, such as Ferrari president Luca Di Montezemolo and Formula One supremo Bernie Ecclestone, have condemned the new sound and the formula that puts an emphasis on fuel economy rather than outright speed. Montezemolo is due in Bahrain for talks with Ecclestone and Jean Todt, head of the governing International Automobile Federation (FIA), on the new regulations and possible tweaks. Formula 1 fans in Melbourne Symonds, a former Benetton and Renault Technical Director, said the new technology was impressive and necessary. “The road car industry, rightly or wrongly, has to hit CO2 per km targets…and they will have to employ technology such as we are using in Formula One. So we are moving forwards, we are more relevant than we used to be. “There was a great danger that we would become irrelevant, that we would become the focus of gas-guzzling and not having social responsibility. I think it was really important that we did move away from that,” added the Briton. “The thing Formula One needs to really face up to at the moment is costs. It’s costs that are going to kill Formula One,” he said. (Reuters) Subbed by AJN. Reports on GrandPrix247.com by: staff & contributors, Reuters syndication, GMM service, Formula 1 teams, sponsors & organisations.