Wolff backs F1 performance-related team payments

Thu Jun 30, 2016 3:28pm EDT
 
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By Alan Baldwin

SPIELBERG, Austria (Reuters) - Formula One's future prize money structure should do away with special bonuses for top teams and instead be based on past and present performance, Mercedes motorsport head Toto Wolff said on Thursday.

Speaking after talks at the Austrian Grand Prix with commercial supremo Bernie Ecclestone, Wolff told reporters that the sport was making more money than ever and all teams should be guaranteed a basic amount.

Revenues above that should reflect performance.

"We had a long discussion ... one topic was how to redistribute the prize fund going forward. I think it’s in everybody’s interest to have stability long-term and we discussed the various models," said the Austrian.

"The prize fund is growing so we are talking about upside, how the upside can be distributed in a way that is more fair and equitable."

Formula One's current commercial agreements with teams expire in 2020 and Ecclestone has suggested introducing a Premier League-style system.

Ferrari, Mercedes, McLaren and Red Bull receive tens of millions of dollars to reflect past success and their importance to the sport, money that is paid regardless of current performance.

That means that McLaren, the second most successful team but without a win since 2012, receive substantially more than some teams above them in the standings.   Continued...

 
Formula One - F1 - Japanese Grand Prix 2015 - Suzuka Circuit, Japan - 26/9/15
Mercedes Executive Directors Toto Wolff and Paddy Lowe (R)
Mandatory Credit: Action Images / Hoch Zwei
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