Jean Todt has admitted some F1 teams are in danger of bowing out
Tag Archive: Max Mosley
Jean Todt insists his hands are tied after F1′s most powerful teams vetoed the move to a budget cap for 2015.
It has been suggested former FIA president Max Mosley, whose antagonistic approach stands in stark contrast to the low-profile Frenchman Todt, would have found a way to force the teams to embrace the cost-cutting crisis.
FOTA, the once unified and powerful alliance of formula one teams, has collapsed.
It emerged recently that, with top teams Red Bull and Ferrari already departed, membership fees were going unpaid and the exit of FOTA chiefs Martin Whitmarsh and Eric Boullier could drive the final nails in the coffin.
An FIA spokesman has rejected F1 legend Sir Jackie Stewart’s claim that the sport is disorganised and poorly managed.
One of the unnamed sources said the new CVC agreement will benefit the FIA to the tune of about $25 million.
The FIA is close to completing a successful push for a bigger slice of F1′s financial pie, according to a report by the expert financial source Bloomberg. Citing ‘two people familiar with the situation’, the media report said the now Jean Todt-led Paris federation is set to boost its coffers to about $40 million per year.
Jean Todt has dismissed suggestions he is willing to loosen the FIA’s grip on formula one in return for more money.
Ahead of a crucial meeting between the FIA president, Bernie Ecclestone and the teams in Paris on Tuesday, the Financial Times reported speculation Frenchman Todt will agree to trade some of the federation’s rule-making power for a bigger share of the sport’s financial pie.