News Details
Majority of teams struggling financially
By Editor on Friday, February 15, 2013 The majority of F1 teams are struggling financially, according to McLaren team principal Martin Whitmarsh.
Whitmarsh, who is also chairman of the Formula One Teams Association, says that the current financial crisis is impacting the sport.
'It's tough,' he told BBC Sport.
'We're in the world of advertising and you only have to see how advertising is worldwide. The rate card is down. We have taken some measures, but I think it's going to be tough for some.'
Whitmarsh believes that the current situation is a result of lucrative deals achieved prior to the start of the financial crisis in 2008 expiring.
Bernie Ecclestone last week said that F1 teams...
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