Richard Rae
2 for 1 at Pizza Express
FORMULA ONE supremo Bernie Ecclestone insists there will be 10 teams on the grid for the first race in 2009, despite Honda’s decision to walk away from the sport.
Ecclestone, who controls the commercial rights, said he supported the radical plans of Max Mosley, the FIA president, to cut the cost of running a team by as much as 80%. The 78-year-old billionaire said, however, that F1 was “thriving” and refused to contemplate reducing the fees he charges circuit owners to stage races.
“When we’ve exhausted all the people who are telling me they want a grand prix, we’ll look at that, but the demand is still very strong,” said Ecclestone. Last season the owners of the 18 circuits paid Ecclestone’s companies about £12m on average.
Adam Parr, chief executive officer at WilliamsF1, said he believed there would be only eight teams in Melbourne for the start of next season, with another manufacturer likely to follow Honda in bowing out, a view that found support at several other British-based teams.
That, in part, is because they do not believe Mosley can fulfil his ambition to enable a team to win the 2010 world championship on an annual budget of “between £30m and £40m” when the likes of Ferrari and McLaren currently spend closer to £200m. Mosley would require teams to use a standard engine and gearbox, costing about £8m a season, which he says would be indistinguishable from the ones used now. Other savings would be made on chassis materials, staffing costs (including driver salaries), and research, development and testing.
One team insider said the Formula One Teams Association (Fota), which has proposed budget cuts of more than 30%, would not accept Mosley’s measures. “The teams aren’t stupid enough to think they could carry on as they were in the current economic conditions, so after detailed study they have come up with changes which would save a huge amount of money but retain the principles which make F1 what it is, a competition at every level. If Max tries to impose his will, he’s going to have an uncomfortable experience,” the insider warned.
The fate of the Honda team could be the crucial factor in deciding whether Mosley or Fota carries the day. The Brackley-based team’s 2009 car, the design of which has been overseen by former Ferrari technical chief Ross Brawn, has been described as a potential race winner and there is no reason to doubt Nick Fry, the team’s chief executive officer, who says he has had three expressions of interest from potential buyers with the resources to take the team forward.
If one of those goes ahead, Mosley’s case for drastic surgery would be harder to make. There would also be no need for Jenson Button to find another drive; the Briton yesterday was linked to both Toro Rosso and Williams.
Industry sectors news at a glance. Interactive heatmap, video and podcast
Everything the Business Traveller needs to know to make a better trip
Get ready for the winter sports season, with our resort guides and snow reports
We are backing British business, what is the confidence of the nation and what businesses are succeeding?
Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge
With rail travel in Europe on the rise, we review the benefits of travelling by train
In this special section we explore new food trends to help improve your dinner party and impress guests
Enjoy further reading from Travel to Fashion, Business to Sport, discover more
1998
£47,955
2004
£56,950
Essex
Check your free Experian credit report before applying
Car Insurance
£100,000
Barnardos
UK
£123,460 pa
The Law Commission
London
Hampshire County Council
Competitive + bonus + benefits
Manchester United
Central London
Moments from Battersea Park.
For sale with Winkworth
Find out about shared ownership.
See your free Experian credit report beforehand
Includes flights, accommodation with room upgrades, transfers city tours in Hong Kong and Bangkok.
PremierHolidays.co.uk
For your ultimate tailor-made ski holiday, click here
Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com
Choose from the beautiful landscape and tranquil beaches of Oahu, Kauai, Maui & Big Island.
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths | Subscriptions | E-paper
News International associated websites: Globrix Property Search | Milkround
Copyright 2009 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.