"No teams are at real risk" to go under with lack of racing

28-03-2020 11:08
by Editorial Team
F1 News
No teams are at real risk to go under with lack of racing

The lack of income due to the lack of Grands Prix may be a big problem for smaller teams in Formula 1, but Aston Martin Red Bull Racing advisor Helmut Marko thinks that the 'emergency plan' of F1 will mean that no team will go under.

The prize money in Formula 1 distributed at the end of each season is a percentage of the gross income that the sport makes in that year. Since there will be significantly fewer races in 2020, this amount will be smaller than in previous years, and that could be a hammer blow to the financial books of teams like Haas and Williams.

Measures have been taken to reduce costs, however: the new technical regulations will now take force in 2022, so teams will not have to develop two cars at the same time. Tests during the season have also been scrapped in order to cut costs.

"There is an emergency plan that helps teams by the million," the 76-year-old Marko told Kleine Zeitung. 

"With this, we should be able to make ends meet in times when there's no income - including the smaller teams. And the Formula 1 has made very smart decisions. 

"First of all, the summer break has now been moved to spring. The new regulations will now come in 2022, which saves us from a double work load: working on the current car and the new car. Tests have been cancelled. 

"We can do everything within budget. So, I don't think any team is really at risk."

The Canadian Grand Prix, as it stands now, will be the first race of the season in mid June.

Check out the latest news

You will be logged out and redirected to the homepage