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FIA’s Alternate Formula 1 Engine Proposal Shows Lack of Foresight
Published: November 22, 2015
Of course, it has not even been two years since F1 adopted ultra-efficient (but very expensive) V6 hybrid engines. Since the beginning of the 2014 season, several teams, including Caterham, Marussia and Lotus, have found themselves in dire financial straits. This financial crisis was spurred, at least in part, by the high costs of the new engines, which longtime F1 journalist Joe Saward pegged at $26 million to $40 million per season, depending on the engine manufacturer.
The FIA recently tried to introduce an engine cost cap, but it was vetoed by Ferrari, so its solution, apparently, is to move backwards and offer cheaper, non-hybrid engines as an alternative for teams.
This is a stab in the back to Mercedes, Ferrari, Renault and Honda, who have each invested 10s (if not hundreds) of millions of dollars in developing the hybrid V6 engines with the expectation that they could sell them to the other teams to recover some of their costs.
It's kind of like back in 2010, when Virgin, Lotus and HRT joined the sport as new teams with the promise of a forthcoming budget cap, to help them compete against the big factory teams. The cap never arrived and Virgin (which became Marussia and now Manor) is the only team left, after being rescued from bankruptcy last year.
If revenues for the engine manufacturers decline precipitously, will their boards continue to see F1 as a good investment?
Mercedes executive director Toto Wolff said he understands the smaller teams' concerns over the cost of the current engines, per Sky Sports' James Galloway. However, he argued:
On the other side it seems to be a bizarre cycle. You invent rules to attract manufacturers because that keeps the credibility of the championship up high and then once you've invented...
Article Source: Bleacher Report - Formula 1
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