Bernie Ecclestone expects F1's cost-cutting initiatives to result in cheaper ticket prices for the 2010 season.
“[The cost-cutting rules] mean we won't have to produce so much money for [the teams] and, therefore, we can ask for less money from the promoter and the ticket prices will come down,” Ecclestone explained.
Meanwhile, the Financial Times
reports that Ecclestone took a personal pay rise of nearly 15 per cent for his work last year, taking his salary to £4m.
Ecclestone's salary made up the bulk of £4.9m paid to directors of Formula One Management.
But the FT
reports things weren't so rosy for CVC, F1's commercial rights holder, whose losses from F1 stretched beyond $500m (£302m) after agreeing to increase pay-outs to teams to ensure they stayed in the series.
The prize-fund increase came after Honda quit the sport in December, but wasn't enough to prevent BMW leaving at the end of this year.