Brawn: F1 not facing financial crisis

Tuesday 5th February 2013

Brawn: F1 not facing financial crisis

Brawn: F1 not facing financial crisis

Ross Brawn has downplayed fears that F1 is facing a financial crisis, saying there are always one or two teams who struggle more than others.

The end of last season saw the demise of HRT due to financial reasons while Marussia terminated Timo Glock's contract in order to sell his seat to a paying driver.

Marussia, though, are not the only team turning to paying drivers as big sponsorship deals for teams are not always easy to find.

However, Mercedes have done just that, signing Blackberry, while Emirates Airline have just confirmed a deal to sponsor Formula One worth a reported £125million over five years.

These deals, Brawn reckons, are proof that Formula One is not facing a crisis.

"I think we are affected by the cycles of the economy of the world," the Mercedes team boss told Autosport. "We cannot ignore that.

"There is a lot of positive and proactive work to try and contain the costs within F1. There is constant debate/discussion within F1 to see better ways of doing that, but I think we are seeing a lot of positive signs.

"We have had Blackberry join us as partners and there are other people joining F1 because they can see the value of it. It is a constant battle. We can never rest and say that it is okay.

"We've always got to be working to contain costs and improve the quality of F1 and make it more appealing to our partners and sponsors. And it is a constant battle.

"In the 30 or more years that I have been involved in F1 it has never been very different to be honest. There are always one or two teams at the bottom who are perhaps struggling to meet their budgets.

"It is cyclic - but there is still a very strong core to F1."

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