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 told 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.

If you liked this post then share it with your friends on social media websites. You can also follow us on Facebook and Twitter to stay up to date with the latest F1 news.

On this day
  • Kimi Räikkönen won the 2007 Belgian Grand Prix.
  • Juan Pablo Montoya won the 2001 Italian Grand Prix.
  • Graham Hill won the 1962 Italian Grand Prix.
  • Alberto Ascari won the 1951 Italian Grand Prix.