Formula One Supremo Bernie Ecclestone has agreed to relive the financial struggles of F1’s Force India, Lotus and Sauber with a £20 million advance, to prevent a potential disaster during the season opener in Melbourne.
There has been raising concerns on the number of cars that would be participating in the Australia GP, due to the ongoing horrendous cash-flow crisis that has badly affected independent teams likes Lotus, Force India and Sauber.
However, Ecclestone has promised to bring forward the prize-money payments for these three teams by handing out a $10 million (£6.5 million) payment by this week to enable their participation in the Melbourne GP on March 15.
“The months of November, December and January are the worst, as during this phase of design and production you spend 43 per cent of your budget with nothing coming in from the outside.” Lotus owner Gerard Lopez told AutoSport.
Photo Credits: The Guardian
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