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Ecclestone to discus financial crisis with CVC
Formula 1 boss Bernie Ecclestone will hold talks with commercial rights holders CVC next week in a bid to find a solution to the financial crisis affecting the sport’s smaller teams.
A meeting involving representatives from each team was held at Brazil’s Interlagos circuit on Saturday to discus F1’s finances but a resolution was not forthcoming.
Lotus, Sauber and Force India had been hoping for a new base payment initiative to be ratified, which would see each outfit receive enough funds to reach a minimum budget to compete.
Ecclestone said during a media briefing at Austin last week that the best solution to the financial crisis would be for the F1’s bigger teams to sacrifice a...
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