F1 money and engine talks stall

Sat Nov 8, 2014 5:04pm EST
 
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By Alan Baldwin

SAO PAULO (Reuters) - Formula One supremo Bernie Ecclestone will meet commercial rights holders CVC in London next week after talks with teams in Brazil on Saturday produced no agreement on giving smaller outfits more money to help them survive.

A separate meeting with manufacturers on the possibility of relaxing an engine 'freeze' for next season ended in stalemate.

"He (Ecclestone) just said ‘I’ll talk to (CVC Capital Partners co-chairman) Donald (Mackenzie) next week and get back to you’. That’s it," Force India team principal Vijay Mallya told reporters at the Brazilian Grand Prix.

"He recognizes that the three smallest teams require to get more money in one form or another," added the Indian entrepreneur.

"We presented our case, he said he’d talk to Donald and get back to us. And I’ve heard this before. So the option is to just wait and watch."

The season ends in Abu Dhabi on Nov 23, after which date the smaller teams have less leverage on the rights holder with the sport going into a winter break and the 2015 championship starting in March.

Two teams are absent from Brazil, with Marussia folding this week and making all their staff redundant. Caterham remain in administration and are trying to raise enough money through crowd funding to get to Abu Dhabi.

Sauber, Lotus and Force India all want a 'base payment' to be introduced to give the smaller remaining teams the minimum budget required to compete.   Continued...

 
Formula One commercial supremo Bernie Ecclestone arrives for the drivers' parade before the first Russian Grand Prix in Sochi October 12, 2014. REUTERS/Maxim Shemetov