user icon

McLaren's Whitmarsh: F1 Headed for Financial Crisis

  • Published on 10 Oct 2013 17:33
  • comments 0
  • By: Tom Spithaler
Many changes are coming in the 2014 Championship Season. The 'silly season' has yet to settle telling us where the drivers will be sitting next year, but for the team owners and principals, these are the least of their worries. Topping the chart of concerns however might be: How do we fund the season?

Many of the changes were implemented with the idea in mind of reducing costs for the F1 teams. Balancing costs with allowing for the introduction of advanced technology has always been an issue for the Formula One governing bodies. This fact will never change. But balance they must, and do so in such a manner that safety remains paramount, and that more cars are competitive with the tier 1 teams. Parody is essential for fan enthusiasm, and fan enthusiasm seems to be waning in the face of run-away victories by Sebastian Vettel of Team Red Bull.

FIA implemented rules changes for 2014 that require Turbocharged V6 engines as power plants. This, among other changes have been made in an effort to help reduce costs to the teams. Martin Whitmarsh, CEO of McLaren Group has reservations as to how this cost reduction effort will play out.

"We are not at crisis yet, but we have to be careful we don't wait for that crisis...We have made some mistakes with introducing the new power trains, we didn't control the costs enough, and the sport may well pay the price of that over the next 18 months," Whitmarsh reported to Sky Sports following last week's Grand Prix in Korea.

"The cost of competing in Formula One at the moment is unimaginable...", continued Whitmarsh.

With the world economy still recovering from a global recession, getting more money to fund a team seems a daunting task at best. As we move forward toward the 2014 season, fans will be looking for more parody between teams, but the question remains, will they get it?

T.Spithaler
F1 Editor - USA

Replies (0)

Login to reply

BE Grand Prix of Belgium

Local time 

BE Grand Prix of Belgium

Local time 

Related news

World Championship standings 2021

Show full world champion standings

Test calendar

Bahrain International Circuit - Winter testing

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

Driver profile

  • Country Germany
  • Date of b. Jul 3 1987 (34)
  • Place of b. Heppenheim, Germany
  • Weight 62 kg
  • Length 1.75 m
Show full profile

Team profile

Show full profile

Formula 1 Calendar - 2021

Date
Grand Prix
Circuit
-
Bahrain
26 - Mar 28 2021
Bahrain
16 - Apr 18 2021
Italy
30 - May 2 2021
Portugal
7 - May 9 2021
Spain
20 - May 23 2021
Monaco
4 - Jun 6 2021
Azerbaijan
18 - Jun 20 2021
France
25 - Jun 27 2021
Austria
2 - Jul 4 2021
Austria
16 - Jul 18 2021
United Kingdom
30 - Aug 1 2021
Hungary
27 - Aug 29 2021
Belgium
3 - Sep 5 2021
Netherlands
10 - Sep 12 2021
Italy
24 - Sep 26 2021
Russian
8 - Oct 10 2021
Japan
8 - Oct 10 2021
Turkey
22 - Oct 24 2021
United States of America
5 - Nov 7 2021
Mexico
12 - Nov 14 2021
Brazil
19 - Nov 21 2021
Qatar
3 - Dec 5 2021
Saudi Arabia
10 - Dec 12 2021
United Arab Emirates
-
United Arab Emirates
See full schedule

Formula 1 Calendar - 2021

Date
Grand Prix & Circuit
26 - Mar 28 2021
16 - Apr 18 2021
30 - May 2 2021
7 - May 9 2021
20 - May 23 2021
Monaco Monte Carlo
4 - Jun 6 2021
Azerbaijan Baku City Circuit
18 - Jun 20 2021
France Paul Ricard
25 - Jun 27 2021
Austria Red Bull Ring
2 - Jul 4 2021
Austria Red Bull Ring
16 - Jul 18 2021
United Kingdom Silverstone
30 - Aug 1 2021
Hungary Hungaroring
27 - Aug 29 2021
3 - Sep 5 2021
Netherlands Circuit Zandvoort
10 - Sep 12 2021
Italy Monza
24 - Sep 26 2021
Russian Sochi Autodrom
8 - Oct 10 2021
8 - Oct 10 2021
Turkey Istanbul Park
22 - Oct 24 2021
United States of America Circuit of the Americas
5 - Nov 7 2021
12 - Nov 14 2021
Brazil Interlagos
19 - Nov 21 2021
3 - Dec 5 2021
Saudi Arabia Jeddah Street Circuit
10 - Dec 12 2021
United Arab Emirates Yas Marina Circuit
-
United Arab Emirates Yas Marina Circuit
See full schedule
show sidebar