Ecclestone: « No more revenue for the teams »
Bernie Ecclestone, the former Formula 1 chief, stated that there is little chance of seeing team revenues rise in the coming years. On the contrary, he prefers to warn them about a possible decline. The FOTA, the association of Formula 1 teams, did not hide its dissatisfaction with the British policy on the sport’s commercial […]
Bernie Ecclestone, the former Formula 1 chief, stated that there is little chance of seeing team revenues rise in the coming years. On the contrary, he prefers to warn them about a possible decline.
The FOTA, the association of Formula 1 teams, did not hide its dissatisfaction with the British policy on the sport’s commercial revenue.
The teams wish to renegotiate the contracts from 2012 and want more than 50% of the profits they currently receive.
However, Ecclestone believes that the cost reductions initiated in the sport would go against an increase in revenue.
« We do not need to pay them more. We need to give them less, » stated Ecclestone in the Financial Times.
« A few years ago, all we had to do was have a discussion with the interested parties, but now, teams come with their lawyers, and it’s very difficult to agree on anything. »
He added: « They could ask for more money but they will get nothing. »
