F1 News
Vasseur: "This is the time to take a good look at cost savings"
- GPblog.com
The world is suffering from the coronacrisis and of course Formula 1 is not immune to it either. It may be clear that the sport is not a priority at the moment, but following Frederic Vasseur of Alfa Romeo steps must be taken quickly to save the sport and a number of teams.
Due to the lack of races, some teams may run into financial problems. They live off the money of sponsors and the amount that the TV rights yield each year. Now that there are fewer races on the program, less will be paid out in both cases.
To prevent that especially the smaller teams do not survive this, the F1 will have to come up with some kind of emergency plan. Vasseur says to L'Équipe that this has already been discussed and that the FOM and the FIA are willing to do the same, but he also thinks that the FIA can now continue with solutions for the long term.
"They [FOM and FIA] have even proposed it. They are open to finding a solution together and so is the FIA. Jean Todt quickly broached the subject and helps us develop realistic solutions. We stand side by side in this fight to reduce costs. The FIA sees exactly what situation the teams are in right now. This is the time to take a close look at a possible cost reduction."