Eurosport - Fri, 05 Dec 07:55:00 2008
Formula One's governing body has vowed to ensure the sport is financially sustainable after Honda announced they were withdrawing from the championship.
"The announcement of Honda's intended withdrawal from Formula One has confirmed the FIA's longstanding concern that the cost of competing in the world championship is unsustainable," the International Automobile Federation said in a statement.
"In the FIA's view, the global economic downturn has only exacerbated an already critical situation.
"As the guardians of the sport, the FIA is committed to working with the commercial rights holder and the remaining members of FOTA [the Formula One Teams' Association] to ensure that Formula One becomes financially sustainable."
Comment 1 - 7 of 27
Bernie has only himself to blame. His daft idea of only awarding gold, silver and bronze medals for the top three, has made it pointless for the smaller teams to compete.
Toyota will be the next to pull out. Then the remainder will relaise this F1 is worthless and therefore will start a new championship without Bleed you dry Bernie
I wonder how much Honda (and all the others) wasted developing a Kers system for next year, just to pander to Spankies desire to prove he's in charge?
Bernie is the major cost!
The FIA will try to blame the constructors but they should remember that they are the governing body and they have created an environment and rules that has caused this to happen. Moseley in particular should accept much of the responsibility but like all politicians, he will believe his own rhetoric and put the blame elsewhere.
I bet Bernie is soiling himself, just think of the personal money he will loose if more manufacturers pull out and his cash cow can sustain its self. By the time he's paid off his ex wife he'll be down to his last few billion
so it's just the costs then.nothing to do with mad max and gollem the evil tree dwarf?.
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