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F1 Small Teams See Hope: Bernie Ecclestone Promises Financial Support

Although Bernie Ecclestone once refuted firmly that he would not give the small teams any additional money, he now promises financial support for the three struggling teams on the F1 grid.

 

At the end of last year, the 22-car-grid was left with only 18 cars in the competition as Marrusia and Caterham went into administration because of their cash flow crisis. And now, Force India, Lotus and Sauber are facing the same problem too. Actually, they have been tackling this issue with Ecclestone since the end of the last season, though the F1 boss at that time insisted that it was the small teams’ duty to solve this problem. However, with the loss of Marussia and Caterham, life was more difficult as it meant suppliers’ bills went unpaid, creating a knock-on effect for the whole industry. The truth is that Force India missed the first two winter tests this season due to cashflow issues. Thus, Ecclestone finally agrees to lend a hand to ensure that they can participate in the Australian Grand Prix.

 

It is reported that the deal values £20 million. However, the report notes that the money is only an advance on the prize money usually paid to the teams over the course of this season. Besides, the minnow’s proposal for an increasing share of the prize money has not been approved.

 

Nevertheless, small teams still feel happy. After all, just as Kevin Eason wrote that the money ensures that the minnows are able to “board the transport planes due to leave for Melbourne next weekend”.

 

Force India deputy Bob Fernley said: “We have made it clear to the commercial rights holder that we have problems, as have Lotus and Sauber. It is not isolated to one team.

 

“Bernie has been extremely understanding. He’s a racer. I think he realises this is serious.”

 

Well, we hope that the small teams can revive soon.

 

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