Menu
Finance

FIA President Jean Todt Calls Top Formula One Teams' Cost Proposals A 'Joke'

FIA President Jean Todt "has blasted cost-cutting proposals" put forward by F1's biggest teams as a "joke," according to Jonathan Noble of AUTOSPORT. Ahead of a "big push by Todt to try to implement much-needed cost controls in F1, with spending having accelerated at the front of the grid, he has asked the sport's smaller outfits to come up with suggestions." That is because he is "hugely unimpressed with a three-year plan that has been proposed by leading teams, which includes a tyre warmer ban, the return of active suspension and more standard parts." Todt: "What was proposed? It was a joke" (AUTOSPORT, 5/17). ESPN reported while the bigger teams "are in favour of a slow cut back in spending, Todt is convinced F1 needs to embrace a much larger spending cut to ensure the survival of its smallest teams." Todt: "My advice was make a contribution as to how we reduce the costs. We know they have budgets of between $100 and $400 million, and the proposal they seem happy with is to reduce by $2 million, which is ridiculous. When we speak about costs we are talking about reducing them by 30-40 percent, and then we can feel comfortable" (ESPN, 5/12). FOX SPORTS' William Dale wrote the colors and the names might be different, but the result of F1’s biggest and most expensive rule changes in recent history "have led to the exact same outcome." Boredom, as one team "romps to dominant win, after dominant win, after dominant win." But instead of Sebastian Vettel and Red Bull making our Sunday nights miserable, it was Mercedes "who turned the Spanish Grand Prix into an exhibition race" (FOX SPORTS, 5/12).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2014/05/13/Finance/Jean-Todt.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2014/05/13/Finance/Jean-Todt.aspx

CLOSE