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Motorsport Week

Virgin keen to secure tenth and final FOM bonus

16 years ago
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Sir Richard Branson is now keen to secure tenth place in the constructors’ championship after hearing just how much the team would net for such a finish.

The governing body of the sport, Formula One Management (FOM), reward teams with a cash prize depending on where they finish in the championship, however only the top ten places are given a prize.

Upon hearing the news that such a position came with a big financial reward, estimated at around £17 million (€20m, $25m), Branson changed his tune about finishing tenth.

“There’s some money? You never told me that,” Branson said to CEO Graeme Lowdon, who then replied: “It does make a difference.”

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Upon hearing the exact amount, Branson added: “Bloody hell, well yeah, I would like to get 10th place.

“Whereas I said I wouldn’t mind about 10th place, I’ve suddenly taken a big interest,” the Press Association quote him as saying.

Lowdon continued: “We have a long-term plan for the team, so getting a 10th-placed finish in the championship would be a bonus. If we get a point then it really would make a massive difference.

 

“It’s an innovative structure, and if you do well on the track then you get very well rewarded.”

Lotus currently hold the paying position and look set to remain there unless either Hispania or Virgin can find some much needed pace.

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