Bernie's simple solution: Spend less

Friday 16-May-2014 09:34

Formula 1 boss Bernie Ecclestone reckons the way for the teams to cut rising costs is quite simple - spend less.

Earlier this year a proposed budget cap was shot down by Formula 1's Strategy Group, which comprises Mercedes, Ferrari, Red Bull, Lotus, McLaren and Williams.

But while the big teams have said no, adding that it is impossible to police, the little teams have cried foul and have warned that Formula 1's future could be at risk unless costs are curbed.

Now 83-year-old Ecclestone has come up with a simple solution to the problem.

"The teams can cut costs so why don't they spend less?" he said in the Independent newspaper.

"I don't think they need a budget cap. The people who don't need a budget cap will find their way round it."

The F1 supremo, a staunch advocate for the old 2.4-litre V8 engines, added that the teams had brought on this year's increased costs by pressing ahead with the new V6s.

"Tell me, what was the idea of the cap? To keep costs down. So we put this engine in and it costs four times more than the other one, and costs the manufacturers a hell of a lot of money."

And as for complaints from those outside the Strategy Group that they were unfairly dealt with in regards to scrapping the cap, Ecclestone says they have only themselves to blame for being left out.

"There are four teams that are not in the Strategy Group and why not? Because the people that are have committed to racing in Formula One to 2020 and have put up sensible guarantees if they don't."

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