F1 » New teams face £16m deposit


Potential new F1 teams face paying a hefty deposit to secure a place on the 2011 grid

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Calvin _

July 13, 2010 11:45 AM
Last Edited 1512 days ago

What new teams need is not to have to lodge an deposit which they can't use. Funding is difficult enough as it is without having to raise another wedge which can't be used.

What the FIA should be doing is regular inspections to ensure that new teams are progressing and withdraw the entry if they aren't.

Seems like BE has decided that it is a good way to earn money by using fines and penalties, rather than giving the fans what they want. The guy is a leech.

rbr46

July 13, 2010 12:14 PM

BE should really help the new teams aquire new sponsorship. I hope lotus and virgin survive because they have showed signs of potential and improvement. HRT i am concerned for.

Kerpen - Unregistered

July 13, 2010 12:36 PM

Bernie you miserable money-loving little troll the reason the new teams cant match the pace of the established teams is because of the lack of testing. If new teams are allowed extended testing and in-season testing they'd be on the pace far sooner than having to test during practice sessions!

Alan D - Unregistered

July 13, 2010 1:07 PM

Kerpen, but testing is also very expensive. You have to take all your engineers and trucks full of equipment and if you need to go to Spain looking for warmer weather then transport and accommodation costs mount up. In addition, you have to hire a circuit for the day, and also hire marshals, recovery vehicles etc to run the track for you, pay for doctors and a medical car to be on standby and so on. Any you still run the risk of the day being washed out and all your money wasted. Everyone would like to do more testing, but new teams are the ones least able to afford it.

YuppieScum - Unregistered

July 13, 2010 1:29 PM

I remember that, back in the day, all new teams were required to post a US$50m 3-year bond as an indicator of their bona fides. The team gained the interest, but the capital was forfeit if they breached their contract with FOM/FIA/etc (Bernie).

At the current exchange rate, the new figure is a little under half that and, to be honest, not unreasonable if another USF1 debacle is to be avoided.

After all, smoke & mirrors are comparatively cheap but "put your money where your mouth is" speaks volumes.

This decision also likely explains Todt Jr's withdrawal last week...





Jon

July 13, 2010 2:41 PM

Alan D, i recognise that testing is expensive and agree with everything you've written, but...

..at least give new teams the opportunity.

New teams should be allowed additonal testing in years 1 and 2. If they can't afford it then they don't have to (no one will force them to drive around a circuit with 16 support trucks!), but if they can secure the backing then why not allow it?

It could be that the financial cost of these 'rookie tests' is soon recouped throught the additional sponsor revenue the teams get by ultimately being more competetive?

It's got to be good for the series to have not just more cars, but more competetive cars?

Alan D - Unregistered

July 13, 2010 5:27 PM

Jon, the reason there is a testing ban is because the teams agreed to it as a cost saving measure. Ferrari more than most could afford testing since they have invested in their own test track, but they've agreed along with the other teams that testing is an expense that can be cut. At the start of the year there were six test days where the track, medical etc were all paid for out a central pool of money and still HRT didn't turn up. Personally I don't like the testing ban but nowadays they have testing bans, engine restrictions, tyre restrictions, limits on pit crew, etc all to cut costs and still these small teams cannot afford to compete. Letting them test won't solve that problem.

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