Formula One becoming Formula none?
Formula One is regarded as the premier series in world racing. Unlike NASCAR, in which most races are simply about how well a car can turn left, Formula One embraces several road courses, using Indy-style cars that can run laps around America’s racing series. But that may be coming to an end.
A few months ago, Formula One stated that next season and following seasons, there will be a spending cap for all teams; 100 million euros for next season and 45 million euros for each following season.
The reason behind this is purely economical. When the world economy started its down turn, Honda dropped from the Formula One circuit, citing economic problems.
Formula One decided that it had to forcefully lower team spending in order to prevent more sudden withdrawals.
The dilemma arises in Formula One priding itself for having technologically superior cars and being a major global event, behind only the Olympics and World Cup Soccer according to The New York Times. By doing this, it’s angered the bigger names that pride themselves on being the world super car manufacturers.
The Formula One Teams Association has tried to reconcile and negotiate, but it finds itself at a crossroad, and forming its own racing circuit away from the authoritarian governing of the International Automobile Federation.
Formula One is now at a crossroad. Will it open for negotiating something reasonable, or do Ferrari, McLaren Mercedes, Toyota, BMW Sauber, Renault, Brawn, Red Bull and Toro Rosso walk out to compete as they wish?
Bottom line: F-1 may become F-None.
Rob @ June 20, 2009