With the world, and Formula 1 currently on lockdown due to COVID-19, David Richards, Chairman of UK Motorsports and former Team Principal of Benetton and BAR, has urged Formula 1 owners Liberty Media to focus on protecting the smaller F1 teams to ensure their survival.
The Formula 1 season is currently on hiatus until at least June owing to the pandemic, leading to fears that some teams may struggle financially due to a lack of immediate income
Talking to the Press Association he said: “Bernie (Ecclestone) made sure that when there were tough times the smaller teams were looked after, and I hope that Liberty see the common sense in that too.
“The big manufacturers such as Mercedes and Red Bull will be OK,” he continued, “but if you look at Williams and Racing Point, for example, it’s not going to be easy for them. There a distinct danger of operations going out of business.
“There will be motorsport companies who do not have the resources to get through this period. It’s going to be a real challenge.”
As a response to the COVID-19 pandemic Formula 1 have already agreed, announced and implemented several changes including the 2021 technical regulation changes being delayed until 2022. All the teams will also be taking their mandatory ‘summer’ three-week shutdown before the end of April. This will help reduce overheads, but also open up the potential to run more races later in the year.
Chase Carey, F1 CEO and Chairman this week spoke about his hopes to hold between 15 and 18 grands prix this season, when it eventually gets going, over the summer and also extending the season beyond the current end race on 29 November.
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