Superior brake parts cleanerSuperior brake parts cleaner

Fears third F1 team could collapse

Motorsport.com

Motorsport.com6:49pm 30 December 2014

Fears third F1 team could collapse

There are fears a third team could follow Caterham and Marussia out of F1 as the new year beckons.

Caterham, although still in administration, is hoping to race in 2015 but Marussia’s assets and factory are being sold to pay back creditors.

F1 business journalist Christian Sylt wrote in the Telegraph that the team’s engine and technology suppliers Ferrari and McLaren, for example, are owed $25 and $11 million respectively.

Sylt said administrator Geoff Rowley acknowledged that Marussia is unlikely to race in 2015.

Now there are fears a third team could collapse, potentially reducing the 2015 grid to just 16 cars. Last year, 11 teams began the championship, filling a 22-car grid.

“They are like sailors rearranging the deckchairs on the Titanic while the ship sinks” – Bob Fernley

But the sport’s rising costs are beginning to bite, and at the latest meeting of the Strategy Group, little was achieved in terms of any relief.

“Forget the festive spirit,” a source told Times correspondent Kevin Eason. “We have people drinking in the last-chance saloon this Christmas and no one seems able or willing to do anything about it.”

A third ‘contender’?

On the latest 2015 entry list, Lotus has been listed with a conditional asterisk alongside its name.

Bob Fernley, deputy boss at Force India, said he was warning a year ago that modest-budget backmarkers like Caterham and Marussia were at risk of collapse.

“(Now) we are talking about teams with budgets of $155 million plus and employing 350 people or more.

“We are about to start a new year with the same warning, but no one seems to grasp what is going on and how urgent things have become. They are like sailors rearranging the deckchairs on the Titanic while the ship sinks,” he added.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

New Ferrari boss: F1 needs a revolution

11:08am 26 January 2015

Autosport
0

1422035609

Ferrari’s new team boss maurizio arrivabene believes rule changes planned for 2017 must be a revolution for formula 1…  More >

FIA to sue Streiff for Bianchi investigation claims

9:14am 23 January 2015

Autosport
0

Fia president jean todt and medical chief gerard saillant are planning legal action against former formula 1 driver philippe…  More >

Force India reveals 2015 colours

11:17am 22 January 2015

Autosport
0

Motor Racing - Sahara Force India F1 Team Livery Launch -  Mexico City, Mexico

Force india has unveiled its striking new colour scheme in an event in mexico on wednesday, ahead of a…  More >

World champion lewis hamilton’s father is involved in plans to revive a south african grand prix. since splitting as…  More >

Racism in the racing paddock

11:12am 22 January 2015

Motorsport Magazine
0

Lewis-Hamilton

will there ever be a lewis hamilton of motogp, a black king of motorcycle…  More >

Kiwi legend Howden Ganley celebrated at Hampton Downs

4:41pm 17 January 2015

NZ Herald
0

motorsport_620x310

To have back-to-back motorsport festivals held in your honour must be pretty cool. that’s what awaits former kiwi formula one…  More >

RACE COUNTDOWN

V8 SuperTourers

Round 4

Waikato 250, Hampton Downs, 31 January

NZV8

Round 5

Manfeild Circuit, Feilding, 15 February

Indycars

Round 1

Brasilia Indy 300, Brasilia, 1 March

V8 Supercars

Round 1

Clipsal 500, Adelaide, 1 March

V8 Supercars

Round 2

Tasmania 400, Symmons Plains, 1 March

  • Latest story comments

  • CRC Motornews poll

    Who do you think will be top of the Kiwi in the 2014 V8 Supercars?

      View Results

    Loading ... Loading ...
  • Newsletter icon

    Get the latest motorsport news delivered to your inbox