Coronavirus News Asia

Can Red Bull’s Christian Horner save F1?

The modern Formula One that Bernie Ecclestone built, and made him filthy rich, is slowly dying — coronavirus only made it evident, it didn’t cause it to happen — and some believe, the time for change has come.

Red Bull Racing boss Christian Horner has called on F1 to allow teams to buy cars from their rivals as it would slash their costs to just £63 million (US$80 million) and help to keep their wheels turning during the coronavirus shutdown, The Independent reported.

F1’s regulations state that every squad “must design and manufacture certain key parts of its cars itself, including the chassis, which means that each team’s cars are unique.”

It has driven up their costs to an average of £190 million annually as the teams try to outspend each other in a bid for victory, the report said.

Their biggest cost is R&D with Red Bull Racing’s parent company spending £118.1 million on it in 2018 alone according to its latest accounts.

This is nearly six times the amount spent by the backmarkers so they stand little chance of success.

It has fuelled concerns that their owners could put the brakes on their F1 outfits in order to cut costs during the coronavirus crisis with McLaren boss Zak Brown recently telling the BBC that he “could see four teams disappearing.”

F1 is due to limit team budgets to £138 million (US$175 million) next year but Horner fears that this won’t do the trick, the report said.

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