by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
GP Week : Issue 213
Bernie ecclestone has made a number of extraordinary statements and taken at least some of the blame for the parlous financial state of Formula 1. The spor t ’s financial supremo has admitted being at fault for the inequitable distribution of funds to teams that has seen Caterham and Marussia placed in the hands of receivers and miss t wo Grands Prix. “ The problem is there is too much money probably being distributed badly – probably my fault,” Ecclestone said in a media briefing at Austin on Saturday. “But like lots of agreements people make, they seemed a good idea at the time.” Commenting if he had regrets about the deals made in the past, Ecclestone replied, “If the company belonged to me I would have done things in a different way because it would have been my money I was dealing with. “But I work for people who are in the business to make money.” Speaking a day after a tense teams principals’ media conference, Ecclestone suggested that he would be willing to talk to the five teams that get the lion’s share of the money, in order to seek a bet ter flow of money to the back half of the grid. “ We have to open the eyes of those people in a position to turn the lights on and off to what they need to do,” he said. “I wouldn’t want to be in a position where I was too strong, F1 disappears and someone says it is because of you it disappeared. “I said to people getting a chunk of money that I would like to take a percentage of their performance-related payment. “I would put that money together to divide among the three or four we know are in trouble but are not going to run away with the money, and then I will put in the same amount of money.” But the comments have been made in light of an intransigence caused by binding regulations. “We have to decide the best way to sort this whole thing out. Frankly, I know what’s wrong but don’t know how to fix it. “No one is prepared to do any thing about it because they can’t . The regulations have tied us up. “We can’t all sit back nicely relaxed and think the problem will go away. It’s not like having the flu and taking a few tablets and it will disappear. “I think the situation is such that if enough people want it resolved, we can resolve it. It ’s a case of the people that are involved in the sport will have to want to look af ter the sport and be prepared to make some sacrifices. “I would tear all the contracts up. Take all the money, pay all the teams’ debts that should be paid so people haven’t suf fered because of Formula 1.” For more: see our Opinion pages ... F1 >>> nEWs BERNIE SHOULDERS THE BLAME F1's FINANCIAL CRISIS 7 GPWEEK.com // 7 GPWEEK.com // PARTNERS: