Formula One could lose four teams, warns Mclaren boss
LONDON: Formula One is in “a very fragile state” due to the new coronavirus crisis and risks losing some of its 10 teams unless some big changes are made, Mclaren boss Zak Brown warned on Sunday. The season has yet to start, with two races— including the showcase Monaco Grand Prix in May— cancelled and six postponed so far.
The sport has already made some changes, including postponing a planned major technical rule change from 2021 to 2022 and agreeing teams will use the same cars next year but Brown said more was needed. “Could I see — through what is going on right now in the world if we don’t tackle this situation head on very aggressively— two teams disappearing? Yeah,” the American told the BBC. “In fact, I could see four teams disappearing if this isn’t handled the right way.”
Brown said the economic and health situation meant it should not be assumed anyone would be lining up to take over any struggling teams. “I don’t think the timing could be worse from that standpoint,” he added. “So I think
F1 is in a very fragile state at the moment.”
Mclaren last week became the first team to put staff on furlough while ratings agency Moody’s changed Formula One’s outlook to negative.
WILLIAMS, RACING POINT FURLOUGH STAFF
Williams and Racing Point became the latest Formula One teams to furlough staff due to the coronavirus as their drivers also agreed to take pay cuts on Monday. Williams and Racing Point announced their cost-cutting moves a week after Mclaren’s decision. Canadian George Latifi and Briton Nicolas Russell, along with senior Williams executives, have taken a 20% pay cut from April 1, with the other staff put on an enforced leave until the end of May. Mclaren drivers Carlos Sainz and Lando Norris took voluntary pay cuts last week. “Due to the ongoing situation involving Covid-19, ROKIT Williams Racing is temporarily furloughing a number of employees as part of a wider range of cost-cutting measures,” a Williams statement said.
“The furlough period will last until the end of May whilst senior management, and our drivers, have taken a pay cut of 20% effective from 1st April.”