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2013-04-29 11:26

MORE PRESSURE FOR LOWER TEAMS: Bernie Ecclestone has revealed that only the top 10 team will receive a F1 income. Image: AFP

The team that finishes last will no longer receive any Formula 1 income, Bernie Ecclestone has revealed.

Marussia officials have been puzzling as to why it was not offered a new Concorde Agreement for the 2013 season and beyond.

The truth now emerges: F1 chief executive Ecclestone revealed he has scrapped the $10-million prize-money for any teams that finish outside the top 10 of the Constructors' World championship.

'WE PAY THE TOP 10'

Ecclestone said: "Marussia don't have a commercial agreement because it is not in the top 10. We pay the top 10, that's what we do.

"For three years we did something different because we had an agreement with (former FIA president) Max (Mosley) but from now on we will pay the top 10 and that is it."

Ecclestone also revealed that the sport is pushing ahead with plans to float on the stock exchange.

"We have agreed to do it," he said.  "It will happen this year and it will be up and running.

Stay with Wheels24 for the 2013 Formula 1 season – fresh reports every day.
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Read more on:    f1  |  marussia  |  bernie ecclestone

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