With Caterham and Marussia in the throes of failure, the governing FIA has admitted it is concerned about the financial situation in F1.
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F1 risks sliding into crisis and having to reinvent its very DNA as struggling backmarker teams begin to succumb to collapse.
HRT folded in 2012, and now F1’s two other newest teams Caterham and Marussia are in the throes of financial administration. Organisers of next weekend’s US grand prix look set to welcome just 9 teams to an 18-car grid, unprecedented since BAR-Honda was banned for a time almost a decade ago.
Marussia looks set to join Caterham in entering administration, the Daily Mail reports on Sunday.
After Bernie Ecclestone said he will allow the struggling backmarkers to sit out the next Austin-Brazil double header, F1 business journalist Christian Sylt now reveals Marussia’s operating company has “filed a notice with the High Court saying that it intends to appoint an administrator”.
Even now crowned the new Formula Renault 3.5 champion, Carlos Sainz jr is still in the dark about his F1 future.
Clearly the cream of Red Bull’s hopeful clan of young development drivers, the 20-year-old is in the running to replace Daniil Kvyat at Toro Rosso in 2015. But with the 17-year-old Max Verstappen already signed up, it is clear that team boss Franz Tost and owner Dietrich Mateschitz think keeping the experienced Jean-Eric Vergne on board might be the smarter play.
Ferrari has split from the pack and declared its support for three-car teams in formula one.
Amid rumours up to three or four teams are in financial peril, Bernie Ecclestone said in Singapore that the sport would fill the grid gaps by requiring top teams to move from two to three-car operations as soon as 2015.