New owners of Formula One Liberty Media are targeting an end to the guaranteed luxuries that Ferrari receive just from entering a season. Ferrari are the only team in Formula One who have competed in the World Championship since its inaugural year in 1950.
Ferrari receives around $100 million every year, with back markers Manor and Sauber receiving half of that. Liberty Media are planning to spread out the payments to see a more level playing field.
“If you’re Ferrari, you have enormous sponsorship revenue that goes directly to you," Liberty’s chief executive Greg Maffei said. "That’s going to be impacted more positively by great races.
"So thinking about balancing the team payments, so they’re a little more balanced and creates more fairness, has to be weighed, in Ferrari’s mind, I would expect, by the fact that creating a great platform helps our sponsorship revenue, too, so there’s give-and-take."
Liberty are also working on the idea of a budget cap, to stop money being 'wasted'. One unnamed source last month said: "It makes no sense to have teams spending the better part of $400 million. That money is not doing anything good for fans. It is just wasted on competing on technology.”