The sports imminent new owners Liberty Media, have suggested that future prize money allocation rules could change – and that Ferrari could also lose their financial privileges from the dividing of the F1 pie.
The takeover from Liberty is expected to be completed this month, with the future direction of the sport now being thrust into the limelight. Liberty are expected to revamp the sports popularity which would in return increase future revenues.
The popular consensus amongst the midfield teams, would be for liberty to distribute the pot much fairer than previously. Older teams have enjoyed loyalty payments for being involved in the sport, with their historical status.
The biggest beneficiaries have been Ferrari, they reportedly receive in the region of $90 million for just turning up! This is more than double what most teams receive.
Liberty’s chief executive Greg Maffei is tasked with bringing in a new dawn for F1.
“If you’re Ferrari, you have enormous sponsorship revenue that goes directly to you,” Maffei was quoted as saying by Forbes. “That’s going to be impacted more positively by great races.
“So thinking about balancing the team payments, so they’re a little more balanced and creates more fairness, has to be weighed, in Ferrari’s mind, I would expect, by the fact that creating a great platform helps our sponsorship revenue, too, so there’s give-and-take.”
It remains to be seen how the power mongers at Maranello respond to such speculation. They believe Ferrari are F1, and demand the right to be paid for competing.
Interesting times ahead.