Bernie Ecclestone has dismissed a request from Force India, Sauber and Lotus, asking for a fairer distribution of Formula One’s billion-dollar revenues.
The trio of smaller F1 teams along with FIA president Jean Todt, had sent a letter explaining their issues regarding the current state of the sport and demanded for change.
In the letter, the trio stated that they could no longer “accept the current distribution of funds, in view of the massive increase of expenses”, despite their signed bilateral agreements with Ecclestone and F1 rights holder, CVC.
The F1 boss however, was unmoved by their grievances.
“They have a contract they signed,” he explained. “They know exactly what they signed and how much money they would be getting. What we don’t have any control over is how much they want to spend. That’s the problem”.
“Normally in business you have a look and see how much money you are going to get, and then you decide to spend less than that otherwise you are going to be in trouble. It doesn’t seem like they’ve followed a normal business route.
“Clearly there should be cost-cutting. There is no need to spend the amount of money they do, but of course they spend it to win. But it doesn’t seem anybody – including the people complaining – has made any effort to save money.”
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