Formula 1
Formula 1 must brace for tough times admits Ecclestone
Global Motorsport Media
Edited: Jan 23, 2012, 7:56 PM
Copy link
Share on Viber
Jan.23 (GMM) F1 "must be prepared for problems" as Europe and the world suffer economically.
Due to the length of our contracts, we are almost immune.
Bernie Ecclestone
That is the admission of the sport's chief executive Bernie Ecclestone, when asked if Peugeot's withdrawal from Le Mans sports car racing could also indicate tough times ahead for F1.
Amid the world's last financial crisis, F1 lost multiple carmakers including BMW, Toyota and Honda.
"They had good reasons to go and save their money because they just weren't successful enough and didn't get the media coverage they wanted.
"Simple as that," Ecclestone told Austria's Salzburger Nachrichten newspaper.
So, with Peugeot pulling out of Le Mans and grand prix promoters considering the future of their races due to the costs, Ecclestone was asked if he is worried F1 could now lose more of its marques and sponsors.
"Due to the length of our contracts, we are almost immune," he insisted.
Bernie Ecclestone and Pasquale Lattuneddu, FOM, Formula One Management
Photo by: xpb.cc
"But if the situation does not change globally, we must be prepared for problems," admitted Ecclestone.
A report in the UK newspaper Express said every one of F1's twelve competing teams unusually failed to pay their bills on time last season.
"The findings ... show that the recession has hit the motorsport", wrote journalist Christian Sylt.
"The five slowest paying teams all have backing from carmakers, which could indicate that in the current economic climate F1 may not be sustainable for them," he added.
We want your opinion!
What would you like to see on Motorsport.com?
Take our 5 minute survey.
- The Motorsport.com Team
Read and post comments
Read also :
Share Or Save This Story
Copy link
Share on Viber
Previous article Ecclestone hopes Red Bull's dominance ends in 2012
Next article Raïkkönen wraps up first day of private test in Spain
Top Comments
There are no comments at the moment. Would you like to write one?
View More & Comment
More from
Bernie Ecclestone
Ex-F1 boss Bernie Ecclestone reportedly arrested for travelling with shotgun in Portugal
Formula 1
Formula 1
Italian GP
Ex-F1 boss Bernie Ecclestone reportedly arrested for travelling with shotgun in Portugal
Bernie Ecclestone sends major F1 warning ahead of 2026: 'Danger is we lose the fans'
Formula 1
Formula 1
Bahrain Pre-Season 2
Bernie Ecclestone sends major F1 warning ahead of 2026: 'Danger is we lose the fans'
Bernie Ecclestone slams "over-confident" Lando Norris as he backs Max Verstappen for 2025 title
Formula 1
Formula 1
Abu Dhabi GP
Bernie Ecclestone slams "over-confident" Lando Norris as he backs Max Verstappen for 2025 title
Latest news
Carlos Ezpeleta: Qatar GP “noise” left MotoGP unnecessarily exposed
MotoGP
MGP MotoGP
Qatar GP
4 min
Carlos Ezpeleta: Qatar GP “noise” left MotoGP unnecessarily exposed
Oscar Piastri splits from Mark Webber management
Formula 1
F1 Formula 1
Sao Paulo GP
28 min
Oscar Piastri splits from Mark Webber management
WEC drivers question lack of full-course yellow after heavy Monza crash
WEC
WEC WEC
Monza
2 h
WEC drivers question lack of full-course yellow after heavy Monza crash
Feature
Discover prime content
Subscribe and access Motorsport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
You have 2 options:
- Become a subscriber.
- Disable your adblocker.
Subscribe now Already subscribed? Sign in here
Already disabled your adblocker?
Reload page
Manage Alerts
Subscribe