Ecclestone: F1 teams financially safe

By on Tuesday, February 12, 2013

Bernie Ecclestone says that all eleven Formula One teams are financially secure.

Ecclestone held a meeting last Thursday as details in the new Concorde Agreement are being finalised.

HRT exited the sport at the end of 2012, while Caterham and Marussia have both dropped experienced drivers in favour of 'pay drivers'.

"On Thursday I was bringing the teams up to speed with the new Concorde Agreement," Ecclestone toldĀ Autoweek.

"They are all safe. We have got a deal with them all, including Marussia. We are continuing with Marussia. I thought they were going to go but they are not."

Formula One teams will also get a cash injection courtesy of a rise in the percentage of F1's profit they will receive, thought to be around 63%, up from 47.5% under the previous Concorde Agreement.

"They've all got more money than God," added Ecclestone.

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