 The car manufacturers dominate F1 |
Formula One's car manufacturers have admitted that their prime motive in threatening to set up a rival championship is to be paid more money. Grand Prix World Championship, the company set up by the car companies to represent their interests, is to meet the F1 teams on Thursday, nominally to try to secure their commitment to the new series in 2008.
But Renault Sport boss Patrick Faure has said that the car companies would compromise on all their demands bar the one for a more equitable distribution of F1's income.
"I have the feeling that things are very clear," Faure told the Guardian newspaper.
"There has been the first era of Formula One, now there will be another. We are happy to keep (F1 supremo) Bernie (Ecclestone) as CEO, but the majority of the money generated by F1 has to go to the teams.
"Everything else is negotiable. But on this we will not compromise. We need this sport to be paid for by the revenues it generates."
 There is a definite desire to try and have a more equitable situation in F1 for everybody |
That seems to be an indication that the manufacturers will be happy to continue in F1 as it is as long as they and the teams they are involved with get more money which has long been the demand of some of the teams - led by McLaren boss Ron Dennis.
"I'm led to believe that the documentation that will be presented to the teams is a complete and comprehensive proposal and has had significant input from all the teams and legal representation," Dennis said at the Brazilian Grand Prix.
"I don't think there are any bad surprises. I think the document has only got better over time. There is no desire for any of the teams to go in a different direction.
"There is a definite desire to try and have a more equitable situation in F1 for everybody."
Dennis has put the share currently received by the teams at just 23%.
 The car-company bosses want a more equitable financial split |
The five car companies involved are BMW, Ford, Mercedes' parent DaimlerChrysler, Ferrari owners Fiat and Renault.
Renault, Ford and Fiat own their own teams while Mercedes has a stake in McLaren.
BMW is Williams' engine partner while Ford provides engines to Jordan and Minardi as well as owning Jaguar.
Ferrari president Luca di Montezemolo said last month that the car makers' key goals were to ensure the long-term stability of the sport, to hand the teams most of the revenue and give manufacturers more control.
F1's commercial rights are controlled by banks after the failure last year of Germany's Kirch media group, which held a 75% stake.
The remainder of holding company Slec is owned by Ecclestone's family trust.
The car companies have been talking to the banks about taking their own stake in Slec.
Ecclestone has said his trust could be interested in buying back the rights if all the teams extended the Concorde Agreement, the secret covenant by which F1 is governed, to 2015.
MMIX
Email this to a friend 
Printable version 