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Small teams see progress in money talks
Formula One's alliance of small teams - Lotus, Force India and Sauber - believe they are finally making progress towards a better deal with the sport's commercial rights holders.
The three teams have been lobbying publicly for a larger share of the sport's revenues since the US Grand Prix and have been critical of the bias in financial backing towards the top teams. In Austin, they believed they were closing on a deal with Bernie Ecclestone but an agreement failed to emerge at the following round in Brazil.
However, after meeting with Ecclestone and Donald Mackenzie, the chairman the sport's controlling shareholder CVC Capital, in Abu Dhabi they believe they are now in a stronger position.
"We had a meeting this morning with Bernie and Donald Mackenzie from CVC and it was a meeting that they asked for," Lotus boss Gerard Lopez said. "Obviously it was a meeting related to our view on how the sport is being managed from a financial perspective. The takeaway from the meeting is that they both understand that they need to take action. We are not going into detail in terms of what they are discussing, but they are going to go away and look at a number of things.
"From our perspective, I think this time it kind of hit home and they understand it - at least in the meeting they agreed to it. Number one, Formula One is turning into a money race but where money is not being won on the track or through sponsors, but given away in a way that is unfair to a number of teams.
"We didn't criticise the overall amount, which is now out in the public and is 900 million, and if you were to say with nine teams left, or even ten, that you divide the whole amount by the ten teams or nine teams there would not be a single team in Formula One that would be in trouble. Clearly the amount seems to be okay, but what is not okay is the distribution key and the fact that it is a subsidised money race, which is not the correct thing.
"In summary, and without going into details because it is not the moment to explain what is being discussed, but in essence both Donald and Bernie agree that there is an issue now, they both agree we are not beggars and we are reasonable and sensible, and they agree that this needs to be solved by the different parties in the sport and not just us or them."
However, in order for the three teams to get a bigger share of the money, the big teams will have to agree to a reduction in their share, which so far this year has seemed unlikely. Lopez is hoping to hear by Tuesday if Ecclestone and Mackenzie can make progress with the big teams, but is wary that they may reject the proposal.
"This will require everybody to get to the table and be reasonable," he added. "If they are not we will see what happens."
However, Lopez is confident Ecclestone and CVC now see the need to change the situation.
"Another reason it has got their attention is that when CVC took over the sport was generating 245 million for the teams, it's now generating close to 900, but it's almost in a worse state than it has ever been," he said. "People always talk about what they take out, but with them putting 900 million back and issues arising like this one, obviously it gets their attention because it's 900 million dollars that's being badly spent.
"It's one of the first times - I wouldn't be arrogant to say it's the only time - where you really feel somehow that with some key people the coin has dropped. They realise close to a billion is being spent and it's become a money race, a subsidised money race.
"The fact some teams hide behind that everything is okay with the way it is is not an excuse to say it's okay. I feel there is enough momentum to get it to a point where we have to see some change, and if we don't - and we're not making threats - but for sure something's going to happen because it's entirely wrong. It's now wrong to a point where it's not tenable anymore."
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