Bernie Ecclestone is keen to push forward with his idea of a $250 million (£156m) annual budget cap in an effort to gradually bring down the cost of competing in Formula One.
Whilst the idea has the backing of the majority of the grid, the issue of policing the budget has arisen. Ecclestone though believes he has a solution which involves offering up a $500,000 (£312,000) reward to any staff member who has evidence that their team has spent over the agreed limit.
“My budget cap allows them to spend what they like on anything within that limit,” he told the Daily Express whilst in Abu Dhabi.
“People within teams know if something is going on,” he added. “An incentive of $500,000 might encourage people to speak out.”
In a further effort to avoid cheating, the 82-year-old says he will enforce team principals or team owners to sign contracts making them responsible for paying the fine out of their own pocket plus further fines if they are found guilty.
“I also want team principals and team owners to sign a contract which would hold them personally responsible for cheating and they would have to pay the fines themselves. It makes people think.”
The solution may come as a surprise given Ecclestone’s current situation involving the alledged bribe he paid German banker Gerhard Gribkowsky.
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