Brazil

Last Race: 09th Nov Brazil

Brazil GP Results
Pos Driver
1 Nico Rosberg
2 Lewis Hamilton
3 Felipe Massa

'Teams facing tough financial future'

Friday 15th February 2013

Share:

'Teams facing tough financial future'

'Teams facing tough financial future'

Martin Whitmarsh estimates that seven of the 11 Formula One teams are in financial difficulties as advertising and sponsorship take a hit.

Last season Formula One lost HRT while already this year Marussia were forced to axe a driver in order to sell his seat to a paying driver.

"It's tough," Whitmarsh told the BBC.

"We're in the world of advertising and you only have to see how advertising is worldwide. The rate card is down.

"We have taken some measures but I think it's going to be tough for some."

The McLaren team boss added that several teams will struggle to "have a viable business model for a few years - there's no doubt about that."

The teams, though, are expected to receive a boost when the new Concorde Agreement is signed as their share in the revenue will reportedly increase from 47 percent to 63.

The Concorde Agreement is the document that governs the running of F1 from the revenue shares to the technical regulations.

The deal is between the FIA, the teams and F1 supremo Bernie Ecclestone, who has proven to be a tough negotiator.

"Bernie has done a fantastic job for the owners," Whitmarsh said. "We can criticise him but he's doing a better job than we are. He's keeping the money on behalf of his employers.

"That money whistles out of the sport and that's deeply frustrating for some of us in the sport but that's exactly what he should be trying to do and if the teams aren't cohesive enough to work together to secure a larger share of that then they have to blame themselves."

The Beginning Of The End

Editor's Picks

NTF1News: Disney Movie

NTF1News: Disney Movie

Among news items this week, tales of the Honey Badger, plus Disney's new movie about the engine row - Un-Frozen...

Winners & Losers: Brazilian GP

Winners & Losers: Brazilian GP

Nico Rosberg kept his lock-ups to a minimum as Turn 4 came back to haunt Lewis Hamilton at Interlagos...

Winners And Losers: US GP

Winners And Losers: US GP

It was a gripping race in the Lone Star state with a clinical victory for Lewis Hamilton to make it five wins in a row...

Button 'Not Fearful' Of Alonso

Button 'Not Fearful' Of Alonso

Jenson Button says he would have no problem partnering Fernando Alonso at McLaren as "nothing scares" him...

Alonso's Ferrari Highs & Lows

Alonso's Ferrari Highs & Lows

Fernando Alonso is on his way out at Ferrari, but there have been plenty of highlights and low points...