Ecclestone considers the opportunity to take action after Toyota’s decision to leave F1. The chief financial officer also seems to think that the grid will consist of only 10 teams.<\/p>\n
The Japanese company is withdrawing in order to save money, but a breach of the Concorde agreements could cost them a fortune. Toyota, due to these agreements, is committed to the F1 World Championship until 2012 inclusive.<\/p>\n
“I’m not sure what we will do,” said Ecclestone. “They didn’t sign the agreement knowing exactly what it meant. The problem is their sporting director, John Howett has always been against drastic cost reductions and was against seeing new teams. Fortunately, we have other teams coming in. It’s really a shame that a car company like Toyota had to withdraw due to the recession.”<\/p>\n
\u00abI think the problem lies in the management of the team, certainly not in the financial support from Japan or the car, which has been competitive.\u00bb<\/p>\n
Despite an investment of over 2.5 billion euros over seven seasons, Toyota never won a Grand Prix, and each point scored cost them about 10 million euros, but these expenses ended in tears. The team director, Tadashi Yamashina, was in tears during the announcement by Toyota Motor Corp. president, Akio Toyoda, grandson of the company’s founder.<\/p>\n
The world’s largest car manufacturer is now the third major constructor to withdraw from F1 within 11 months, following the exits of Honda and BMW, while tire supplier Bridgestone announced this week that 2010 will be their last season.<\/p>\n
\u00ab Betraying the fans was a difficult thing to do, and I was the one who made the final decision, \u00bb said Toyoda. This decision now leaves the door open for Sauber to get on the grid. BMW did not sign the Concorde agreements and thus escapes any penalty. Four independent teams, USF1, Campos, Lotus, and Manor Motorsport, have signed, but Peter Sauber wants to regain control of his former team.<\/p>\n
“I would be happy if we have 10 strong teams on next year’s grid,” said Ecclestone, who still seems to have doubts about the new teams’ ability to be ready for the starting grid in Bahrain for the season opener.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ecclestone considers the opportunity to take action after Toyota’s decision to leave F1. The chief financial officer also seems to think that the grid will consist of only 10 teams. The Japanese company is withdrawing in order to save money, but a breach of the Concorde agreements could cost them a fortune. Toyota, due to […]<\/p>\n","protected":false},"author":18,"featured_media":42839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,1749],"tags":[87],"class_list":["post-23057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-f1","category-news","tag-bernie-ecclestone"],"acf":[],"yoast_head":"\n