The FIA president Max Mosley has aimed a vitriolic broadside at F1 teams for 'wasting' money
Mosley sent the antagonistic letter - which was leaked to The Guardian - to all the sport's team principals accusing them of failing to implement cost-cutting measures. The letter reads: "F1's vast profits are currently being wasted on pointless exercises for the private entertainment of the teams' engineers." "As a result, several independent teams are losing money when they should be making a profit, while car manufacturers are forced to spend excessively. This is the problem which needs to be addressed." Mosley thus neatly sidesteps the issue of how Bernie Ecclestone's F1 Management group divides the sport's annual commercial rights income of £400m. At present the top ten constructors receive a mere 50% of this income, with Eccelstone's company bagging the rest. "Until the basic problem of costs has been resolved, time should not be wasted discussing how the money is to be distributed," an obdurate Mosley continued. The president is also speaking from a position of financial strength after recently receiving £50m from McLaren after the British team were found guilty on spying charges. And Mosley did not stop there. He added: "If it did not waste money on pointless, hidden and duplicated technology, F1 would be an immensely profitable business. Each [team] would be a valuable franchise. Instead it is living on subsidies from the car industry and hand-outs from friendly billionaires." Mosley final assertion in the tirade can be regarded as nothing but a thinly-veiled attack on the likes of Indian tycoon Vijay Mallya, who bought Spyker F1 for an initial fee of around £40m.
source: planet-f1
pic: formula1latest
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