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LONDON, England - Formula 1's major teams oppose moves to appoint a single fuel supplier. The new sport’s Concorde Agreement paves the way for a single supplier of fuel in future.
The FIA will be "in charge of conducting the tender process", the governing body's media statement said, with Bernie Ecclestone "entitled to run the commercial negotiations with potential suppliers".
MILLIONS AT STAKE
According to Sport Bild, teams are not happy with this development. This is because teams have separate and lucrative deals in place with major oil corporations - Ferrari with Shell, Renault with Total, Mercedes with Petronas and McLaren with Mobil.
If for example, Total is selected as F1's sole fuel supplier, that would cost Ferrari its R340-million deal with Shell and Mercedes its R408-million Petronas deal.
The FIA announced that it had signed the new Concorde Agreement with the commercial rights holder, led by Ecclestone.
Teams now have financial deals in place with the F1 chief executive. Before the actual tripartite Concorde Agreement is in force, the teams have to sign up, and Sport Bild said the new fuel issue could be a fly in the ointment.
Stay with Wheels24 for the 2013 Korean GP weekend.
The FIA will be "in charge of conducting the tender process", the governing body's media statement said, with Bernie Ecclestone "entitled to run the commercial negotiations with potential suppliers".
MILLIONS AT STAKE
According to Sport Bild, teams are not happy with this development. This is because teams have separate and lucrative deals in place with major oil corporations - Ferrari with Shell, Renault with Total, Mercedes with Petronas and McLaren with Mobil.
If for example, Total is selected as F1's sole fuel supplier, that would cost Ferrari its R340-million deal with Shell and Mercedes its R408-million Petronas deal.
The FIA announced that it had signed the new Concorde Agreement with the commercial rights holder, led by Ecclestone.
Teams now have financial deals in place with the F1 chief executive. Before the actual tripartite Concorde Agreement is in force, the teams have to sign up, and Sport Bild said the new fuel issue could be a fly in the ointment.
Stay with Wheels24 for the 2013 Korean GP weekend.