Mallya Worried About F1 That Generates USD 1.7 Billion Every Year

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Force India Formula One team boss, Vijay Mallya, is worried about the financial crisis in F1, saying that sport's owners must fix the revenue sharing model among teams for the smaller teams to survive.

After the two smallest teams in F1, Caterham and Marussia failed to appear for the United States Grand Prix due to financial and owner issues, now the spotlight is on the Force India team.

This is what Mallya had to say:
"We are very disappointed that Caterham and Marussia are no longer competing. The fact of the matter is that new teams like HRT, Marussia and Caterham that were brought into F1 in 2010, have sadly disappeared and there is a reason behind that."

"It is very clear that this distribution is skewed heavily in favour of the big teams and the smaller teams are at a disadvantage. For a sport that generates USD 1.7 billion in revenue, which is more than INR 10,000 crore, it is sad that small teams are being no longer able to compete."

"You could run 30 cars with that kind of money. $900 million is more than sufficient to cover all teams. So the revenue generation is very generous, the way it is being distributed is something that needs to be fixed."

Even F1 boss, Bernie, admitted to this saying, "The problem is there is too much money probably being distributed badly - probably my fault. Frankly, I know what's wrong but don't know how to fix it. No one is prepared to do anything about it because they can't."

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Story first published: Saturday, November 8, 2014, 11:46 [IST]
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