Ferrari will be paid much more than any other Formula One team this year despite finishing runners-up to world champions Mercedes last season
Autosport.com, which said it obtained projected payment details at least weekend’s Bahrain Grand Prix, said Ferrari was in line to receive $192 million — a 17 percent increase on 2015. The figures have not been published by Formula One Management.
The Italian glamour team, the only ones to have been in the championship since it started in 1950 and the most successful, are alone in getting $70 million as a reward for their long-standing contribution. Mercedes, winners of both constructor and driver championships for the past two seasons and of 34 of the past 40 races, will get $171 million and third-placed Williams a mere $87 million. Red Bull, fourth in 2015, can expect $144 million thanks to two other significant negotiated payments of $35 million and $39 million — the latter a constructors’ championship bonus for their four successive titles between 2010 and 2013. The figures indicated that McLaren, who endured their worst season in 2015 and finished ninth overall, will still receive $82 million thanks to a $32 million constructors’ bonus.
In contrast, struggling Sauber finished eighth but get ‘only’ $54 million. Force India, who achieved the team’s best ever championship finish of fifth, also get less than McLaren even if their $67 million represents a 12 percent gain on 2014. Co-owned by Indian beer baron Vijay Mallya, Force India have complained with Sauber to the European competition authorities about the sport’s governance and distribution of revenues
The revenues are gathered from race hosting fees, media rights, trackside sponsorship and hospitality. Autosport said the 2015 total due to the 10 teams was $965 million, nine percent up on the previous year.
Autosport said Formula One Management (FOM) had estimated turnover of $1.9 billion in 2015, with underlying revenues of $1.4 billion.
Commercial supremo Bernie Ecclestone told reporters in Bahrain that FOM would “pay the teams collectively, at the end of this year, very close to a billion dollars.
“If I was a promoter of pop concerts, I think I’d want a much better performance from the performers than we are getting from the people we are paying the billion dollars to,” he added when it was pointed out that the team getting the biggest share were not even winning.
In other F1 news
FIA investigating Ferrari coded message
F1’s governing body is looking into whether Ferrari stretched the new radio clampdown rules, according to a report in Germany’s Auto Motor und Sport. While the new rules severely limit what can be said on the radio, the FIA’s Charlie Whiting said in Melbourne that they also apply to dashboard displays and pit boards.
“We do have a camera looking at all the pit boards, so if we see anything unusual we will ask why,” he said.
Auto Motor und Sport claimed on Wednesday that a rival team has shown the FIA a photo of a Ferrari pit board in Bahrain displaying the message “3.2-LFS6-P1”.
The report said the FIA is now looking into the matter.
HAAS to bring development upgrades to China
Günther Steiner, Team Principal of Haas quoted as saying “We must learn at first the maximum, especially as the potential seems important. To us to operate correctly. Developments are planned for China , but for the moment we have no plans to change race by race. ”
Lawyer denies claims that Rosberg is evading tax
Nico Rosberg’s lawyer has denied claims the Mercedes driver is evading tax. The 2016 championship leader’s name was mentioned among the millions of leaked financial documents known globally as the ‘Panama Papers’, amid suggestions countless prominent people are hiding wealth and evading tax.
German reports alleged that the documents, originating from a Panama law firm called Mossack Fonseca, showed that Rosberg’s contract with Mercedes is via a British Virgin Islands-based ‘letterbox company’ called Ambitious Group Limited.
“Contrary to some reports,” Rosberg’s Berlin lawyer Christian Schertz said, “our client has no letterbox company in Panama. It is true that a letterbox for Nico Rosberg was established in the British Virgin Islands by the firm Mossack Fonseca,” he added.
But Rosberg’s lawyer denies this has anything to do with tax. “The sole reason for this was legal liability issues and the ability to act internationally,” said Schertz. “This facility has nothing to do with tax,” he added, insisting Rosberg has always “behaved fiscally correctly in all respects”. “He is domiciled in Monaco and therefore taxable in Monaco,” Schertz insisted. “All compensation that he receives from the (Mercedes) team is therefore taxed directly in Monaco,” he added.
German reports say Mercedes is refusing to comment for reasons of business confidentiality, but the carmaker did say there are “no abnormalities” in the dealings with Rosberg in the area of compliance. (GMM)
Hamilton insists F1 drivers should trust their instincts on the track
‘There is a problem in racing, you have all these driver coaches coming along, mind coaches and it’s all a bunch of c**p.
‘The insecure people think they need those things but they don’t. You just get lost and you don’t need it.’
‘You have to trust yourself. Everyone has their own unique way of doing it.
‘I think people start to look at certain things, that’s not there. All the small, little noises which is not the important stuff.’
The Brit was helped by former McLaren doctor and performance expert Aki Hintsa during his first title success in 2008.
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