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GP Week : Issue 214
Formula 1’s poorer teams will not be getting any financial assistance from Bernie ecclestone. Formula One Management’s CeO said in Brazil that any suggestions that the sport ’s finances be reorganised on a more equitable basis is “a complete and utter waste of time”. “The way forward is very easy; don’t spend as much,” he added. “We already give these teams collectively $900m.” With the recent financial collapse of Marussia and Caterham, there had been suggestions that the financial payments due to those teams (said to total us$68m) could be bolstered by CVC Capital and distributed among the four teams that are struggling financially – Lotus, Force India, sauber and Williams. Caterham recently launched a crowd-funding effort aimed at raising us$4m to fund the team’s appearance at the final race of the season at Abu Dhabi. But ecclestone has dismissed that as well, suggesting that the struggling teams should “start running the business as a business”. At the same time, ecclestone said that “At the moment there has been no agreement for third cars”, a statement backed up by a Red Bull Racing spokesperson saying that there was no request for the team to organise a third car for 2015. F1 >>> nEWs BERNIE: NO BUCKS, NO THIRD CARS F1's FINANCIAL CRISIS 7 GPWEEK.com // 7 GPWEEK.com // PARTNERS: