Exclusive: Bernie Ecclestone tells F1 teams they 'must learn to spend less'
A £120m cap on budgets for next season was blocked by the sport's Strategy Group
Thursday 15 May 2014
Bernie Ecclestone says that Formula One teams do not need a budget cap to cut costs but should learn to spend less – and questioned the costly decision to introduce the new 1.6-litre V6 engines.
A £120m cap on team budgets was due to be introduced next year but was blocked in April by the Strategy Group, a body comprising Ecclestone, F1's governing body the Fédération Internationale de l'Automobile (FIA) and six leading teams.
"The teams can cut costs so why don't they spend less? I don't think they need a budget cap. The people who don't need a budget cap will find their way round it," said Ecclestone.
F1's four smallest teams – Marussia, Caterham, Sauber and Force India – were angered by the decision to drop the budget cap and, on 10 April, they wrote to FIA president Jean Todt suggesting that the Strategy Group breaches European competition law. Ecclestone, however, insists that the body is justified.
"There are four teams that are not in the Strategy Group and why not? Because the people that are have committed to racing in Formula One to 2020 and have put up sensible guarantees if they don't."
Ecclestone also suggested that introducing the new V6 engines, which have been criticised for being quieter than their V8 predecessors, had been a mistake. Ferrari, Mercedes and Renault spent around £300m ($500m) developing them and they cost other teams up to £15m ($25m) annually.
"Tell me, what was the idea of the cap? To keep costs down," he said. "So we put this engine in and it costs four times more than the other one, and costs the manufacturers a hell of a lot of money."
Chelsea injury news: Cesc Fabregas and Branislav Ivanovic could join Diego Costa on the sidelines for crucial Manchester City clash
Australian Open 2015: Thanks to Amelie Mauresmo, it's no longer Andy Murray against the world
Fantasy Premier League: Invest in Arsenal to climb the ranks in Gameweek 23
Manchester United sign former Manchester City prospect Sadiq El Fitouri on advice from Phil Neville and Paul Scholes
Chelsea vs Manchester City: Manuel Pellegrini pours scorn on anti-Chelsea 'campaign' but refuses to discuss Jose Mourinho's 'Pellegrino' slight
- 1 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 3 Ball pool for adults opens in London
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
King Abdullah dead: We can't afford not to hold Saudi Arabia's royals to account