F1’s long-running financial crisis has become an even more pressing matter in recent weeks, as just 18 drivers participated in the U.S. Grand Prix on Nov. 2. That race took place without Marussia or Caterham after both teams went into administration to address their financial issues. Neither team was represented in Sunday’s Brazilian Grand Prix either. Marussia’s administrators announced on Friday that the team is folding. Meanwhile, Caterham is using public-funding website Crowdcube to try to raise £2.35M ($3.73M) by Nov. 14. Several of the sport’s most prominent figures have weighed in with suggestions on how to address the financial disparity between top F1 teams like Mercedes and Red Bull. With just one race remaining on the calendar after Sunday’s race -- the Abu Dhabi Grand Prix is scheduled for Nov. 23 -- everyone from F1 CEO BERNIE ECCLESTONE to numerous team principals including Sauber’s MONISHA KALTENBORN and Force India’s VIJAY MALLYA have addressed the situation.
Ecclestone: “We don’t want begging bowls. If people can’t afford to be in Formula One, they have to find something else to do. If I sit in a poker game and I can’t afford to be there with the other people, I get killed and have to leave” (LONDON TIMES, 11/8).
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Christian Horner
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Red Bull Team Principal
CHRISTIAN HORNER: “I don’t agree with the fans having to fund a team. The fans pay to be entertained by the teams. They shouldn’t be having to pay for a team. The concept of that is wrong and should not be allowed” (
LONDON TIMES, 11/8).
Ecclestone: "People say F1 is in crisis. Absolute nonsense. We've had a couple of teams in crisis. People come and go” (BBC, 11/8).
Mallya: “We are very disappointed that Caterham and Marussia are no longer competing. The fact of the matter is that all these new teams (HRT, Marussia and Caterham) that were brought into F1 (in 2010) have sadly disappeared and there is a reason behind that. It is very clear that this distribution is skewed heavily in favor of the big teams (mainly manufacturers) and the smaller teams are at a disadvantage” (PTI, 11/7).
Kaltenborn: “It is shocking news that we are not in a position to keep such a team alive" (BBC, 11/7).
Caterham Administrator & Interim Team Principal FINBARR O’CONNELL said, "We are working non-stop to get the Caterham F1 team back racing, initially in Abu Dhabi, but hopefully that will be just a stepping stone to get it back racing on a permanent basis, under new ownership" (BLOOMBERG, 11/7).
Horner: “What F1 has done during the last couple of weeks, with the public slanging matches that have gone on, is not good for the sport. Doing it publicly is the wrong way to do it. The sport should be focusing on what we have seen in America -- good racing, wheel-to-wheel racing. The politics and the fiscal issues should be dealt with behind closed doors, with the commercial rights holder, and get sorted” (BBC, 11/6).
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Vijay Mallya
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Ferrari F1 Team Principal
MARCO MATTIACCI: “I want an extra race in the United States. I want three races in the United States. That's my proposal, because the American market is fundamental to generate revenues, to attract sponsors, so that's my proposal. When you have more revenues definitely you can talk about having more teams on board. ... We need competitive teams. I'm not here to say small, middle; we need competitive teams with a solid business background, a solid financial background" (
ESPN, 11/5).
Mallya: “Well, you know the United States is a large continent and could have more than one Formula One race. The motor racing culture and passion exists in this country, in terms of NASCAR, in terms of Daytona, in terms of the Indy 500, I mean motorsport is basically a very, very popular sport here in the United States" (ESPN, 11/5).
Mallya: “I’ve always said that the model has to be more equitable. The commercial rights holder is entitled to make its profit by owning the commercial rights for the sport, and as far as the distribution is concerned, I think Gerard [Lopez] very clearly explained that it was skewed mainly towards the big teams which is basically what is causing the problem with the smaller teams” (SBD Global, 11/3).
Kaltenborn: “If we don’t act now together then you have to ask yourself what else needs to still happen?" (SBD Global, 11/3).
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Monisha Kaltenborn
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Ecclestone: “No one is prepared to do anything about it because they can't. The regulations have tied us up. If we were in a position where we could help these teams in trouble, we would do it. But we are not allowed to. … It's not the biggest crisis I've dealt with, but I'm not happy. It's just you are talking about larger amounts of money, so therefore it is more difficult to solve. It's not like having the flu and taking a few tablets and it will disappear. (
PA, 11/1).
