Bernie Ecclestone has reportedly agreed to assist the financially struggling outfits by advancing prize money payments to ensure they’re able to compete in the first few races of the season.
Force India, Sauber and Lotus are the most financially unstable teams and they have all asked Ecclestone that money due to them in April be released earlier.
Due to the way prize money is distributed, cash flow can be a problem according to Lotus team principal Gerard Lopez.
“The months of November, December and January are the worst,” he said, “as during this phase of design and production you spend 43 per cent of your budget with nothing coming in from the outside.”
That’s because prize money from the previous year is paid in installments, beginning in April. But that money will now be paid in March to ease their troubles.
“Bernie has promised support for the teams,” noted Force India deputy team principal Bob Fernley. “That support will enable us do the first few races.
“We have made it clear to the commercial rights holder that we have problems, as have Lotus and Sauber. It is not isolated to one team.
“Bernie has been extremely understanding,” he added. “He’s a racer. I think he realises this is serious.”
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