Wheels24

Lost F1 income hurts Marussia

2013-05-02 09:42

Technical chief Pat Symonds has admitted Marussia's loss of Concorde Agreement revenue "really hurts".

F1 boss Bernie Ecclestone announced recently that only the top 10 finishers in the Constructors' World championship would share the sport's commercial income. Marussia was the 11th.

Previously, under a scheme devised by former FIA president Max Mosley, the three newest teams Caterham, Marussia and now-defunct HRT received R90-million a year irrespective of their result.

SIGNIFICANT LOSS


Ecclestone told Reuters the new arrangement was "an incentive" for Marussia to "get going and get into the top 10". "It's a bit like the football - you can go up and down," he added.

Just before Ecclestone's announcement Symonds said the UK-based team was not the only one "worried" about F1's financial situation. He said Mosley's R90-million ayear was "a significant part of our budget". "When you take away things like that, it really hurts."

The situation for Marussia could become even more dire: sporting director Graeme Lowdon has hinted to the UK's Press Association that Ecclestone wanted to freeze the team out completely - even if it did make the top 10.

Lowdon said: "We can confirm we've not had any offer from CVC at all.  At no time have we had any proposal."

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GMM