Brawn Believes Ferrari Support the Need for Payment Change

0
500
Ferrari
Ferrari

Formula 1 managing director Ross Brawn is of the opinion that Ferrari understands the sport’s need to change. To be precise, the distribution of prize money among the various F1 teams.

As of now, Ferrari remains the highest paid team in Formula One followed by Mercedes. Their net capital includes a Long-Standing Payment (LST) of $73 million and their regular salary. This was part of the Concorde Agreement implemented by former owners Bernie Ecclestone and CVC.

Being the oldest team on Formula One, Ferrari is the only one to be privy to the LST. In the meantime The Maranello outfit also enjoys other payments exclusive to a select number of outfits.

However, with F1 aiming to bunch up the field in an effort to introduce a sense of competitive, a plan was conceived. The idea is to alter the methods of providing money to the teams at the end of the year. In addition to this, the FIA will enforce a budget cap for all competing teams.

F1
Ross Brawn

“There is too much disparity between the top two or three teams and the rest of the grid,” Brawn revealed, speaking to The Guardian. “You have a group of teams that could finish last and still earn more than the team that has won the world championship.”

“We have to recognise the importance and history of Ferrari and the unique place it has in the sport but we also have to find a balance between that recognition and an equitable position for the rest.”

“We know that the ones that have got it all want to keep it and the ones that haven’t got it want more. It’s finding a fair balance in how we distribute the revenue. We know that if we have a more equitable distribution of revenue we will have a better F1.”

“You are never going to attract new teams when you have such unfair distribution. Ferrari recognise that. They will fight tooth and nail for the best they can [get] but logic will have a fair part in trying to find a solution.”

Ferrari
Scuderia Ferrari Mission Winnow