Ecclestone says F1 teams should remain uncapped

21 Jun 2009, 12:49 am   -   Source: Reuters
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Formula One chief executive Bernie Ecclestone arrives in the paddock in Silverstone, central England, before Sunday's British F1 Grand Prix June 20, 2009. REUTERS/Nigel Roddis

Formula One chief executive Bernie Ecclestone arrives in the paddock in Silverstone, central England, before Sunday's British F1 Grand Prix June 20, 2009. REUTERS/Nigel Roddis

SILVERSTONE, England (Reuters) - Formula One teams should be free to spend what they want in return for a long-term commitment to the sport, commercial supremo Bernie Ecclestone suggested on Saturday.

SILVERSTONE, England (Reuters) - Formula One teams should be free to spend what they want in return for a long-term commitment to the sport, commercial supremo Bernie Ecclestone suggested on Saturday.

Eight of the 10 current teams, including champions Ferrari, have said they will start planning their own championship from next year after failing to agree with the governing body on rules that include a budget cap.

"I have some sympathy for the teams. Nobody wants to be told how they can spend their money," Ecclestone told BBC radio at the British Grand Prix, his position at odds with the International Automobile Federation (FIA).

"I say, provided they confirm they will be in the championship for five years, they can spend what they like."

The FIA wants to introduce a budget cap, possibly of 100 million euros next year before going down to 45 million in 2011, to cut costs in the face of the credit crunch and allow new teams to enter.

While the headlines have been dominated by talk of a split, and legal action by the FIA against the teams, Ecclestone was hopeful that the situation could be resolved.

"We'll do our best," he said. "I'm sure we'll find a way. We have us, the federation and the teams and that's the way it should stay.

"I think in the end people will have enough sense not to bust this business up. Everyone should stay in their place and do their job," added the 78-year-old, who has turned the sport into a billion dollar business.

"As ever when people start to have an argument they don't know where to stop and all sorts of people have ideas about what should and shouldn't happen, but eventually it will sort itself out."

Ecclestone also defended his long term ally Max Mosley, the FIA president who is at the centre of the controversy.

"It's difficult for some people to understand that this all started because he wanted to save the teams money so they didn't go out of business," he said. "He has done a lot of very good things for Formula One."

(Editing by Alison Wildey)

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