Ecclestone slams F1 team “begging bowl”
Formula One supremo Bernie Ecclestone believes Caterham’s decision to hand out a begging bowl to the fans is “a disaster” for Formula One.
Cash-strapped Caterham on Friday announced on Friday the launch of a crowdfunding project aimed at raising £2.35million to get the team on the grid for the final race of the season in Abu Dhabi.
As at 1.30pm on Saturday the appeal had hit the £500,000 mark, yet 84-year-old Ecclestone said: “It’s up to the fans if that’s what they want to do. Maybe people will put investment in the team.
“I think it’s a disaster. We don’t want begging bowls. If people can’t afford to be in Formula One they have to find something else to do.”
Caterham have until midnight next Friday to raise the additional £1.8million, with Ecclestone confirming he is unwilling to help if they fall short.
“No,” said a firm Ecclestone when asked about the prospect of putting his hand in his pocket.
“If I sit in a poker game and I can’t afford to be there with the other people, I get killed and have to leave.”
As for Marussia, who ceased trading and closed the doors on their Banbury-based factory on Friday, Ecclestone had little to offer.
“Presumably if they’ve stopped it’s the end. Pity that they’ve had to do that,” added Ecclestone.
Attention now turns to the talks Ecclestone is due to hold this weekend with the smaller marques seeking a more fair and equitable distribution of the funds handed out by CVC, F1’s commercial rights holder.
It is understood CVC has so far indicated a willingness to talk and to leave Ecclestone to conduct the negotiations.
Ecclestone, though, is slightly exasperated at the fact the teams already receive a significant slice of cash and yet overspend.
“I don’t know what they do with their money,” said Ecclestone, speaking in the paddock ahead of this weekend’s Brazilian Grand Prix.
“We give the teams nearly £900million a year. We don’t spend it.
“They have a contract until 2020. They know exactly what the terms are, so they have to run their business according to their income.
“If they spend more than they get, it’s not a good way to run a business.
“The trouble is they haven’t really understood. People want to win, all the teams here want to win. Some teams have more money and they spend it.
“When I had a race team a few years ago I used to run it according to how much money we could spend and we won the world championship.
“That’s what they don’t do. They don’t seem to understand somebody is going to be last.”
