formula 1, Motoring News, motorsport

Bernie scoffs at F1’s new owner’s ‘budget cap’

LONDON, England – Bernie Ecclestone, once king of the Formula 1 track, thinks any attempt to make the racing class more competitive through a budget cap is doomed.

He believes the main teams will find another way to “stay on top”.

The 87-year-old moved aside in January 2017 after Liberty Media took control but now warns that a threat by Ferrari to walk away after 2020 should be taken seriously. Liberty and the International Automobile Federation are scheduled to present cost control proposals to teams today (Nov 7 2917).

READ THE FULL feature on Reuters UK

Reuters reports that while there has been talk of the sport heading towards a high-stakes showdown over revenue distribution its Strategy Group meeting in Geneva was not expected to discuss the subject.

A possible budget cap has been suggested despite F1 struggling to find a way of policing it a when a teams is part of a much bigger entities.

Ecclestone was sceptical about the outcome.

READ MORE Formula 1 features on Carman’s Corner

 

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