McLaren CEO Zak Brown says the team future in Formula 1 isn’t guaranteed because he doesn’t have an “unlimited chequebook”.
The American has been vocal in warning of the possible financial fallout from the current coronavirus crisis and this week pushed for next year’s new budget cap to be reduced to as little as $100m.
That failed following opposition by two teams, believed to be Red Bull and Ferrari, and Brown explained that if measures aren’t taken to keep F1 financially viable, maintaining the support of the company to stay on the grid could become tougher.
“We’re quite a big brand, an iconic team, but we don’t have an unlimited chequebook and I’ve got boundaries in which I’ve been tasked by our shareholders, I need to create value for them,” he told Sky Sports.
“You can imagine our road car business, like a majority of businesses right now, has come to a stop for the short term.
“What I don’t have is the ability to continue in F1 at any and all costs.
“If I can go back to my shareholder base and say, look, this has impacted all of us, Formula 1’s going to be an economically more viable sport, a more competitive sport, then I’ll get a tremendous amount of support to power through this.”
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Previously, the McLaren chief, who has had to furlough staff during this period, suggested as many as four teams could be forced off the grid if the situation isn’t handling properly by F1 bosses.
And that is a view he continues to hold.
“The frustrating part [is] a very successful Formula 1 is there for the taking,” he claimed.
“We’re fortunate that the majority of the owners in Formula 1 have the means to continue and get through what’s a very big speed bump.
“However, if they don’t like what Formula 1 looks like coming out of this, then what’s their motivation to stay in the sport?
“Sauber [which operates as Alfa Romeo], Haas, these teams want to be competitive and they have the means to stay in the sport. The question is, do they want to stay in the sport?”
Joining Brown on the Sky Sports ‘Vodcast’ was one the men tasked with ensuring the current grid remains intact, F1 motorsport director Ross Brawn, and he agreed maintaining the appeal to smaller team owners is more critical than the larger manufacturers/brands.
“They’re gonna have to support their team, perhaps in the short term, and if you’re supporting your team and the prospect is to run around the back of the grid, it’s not a very exciting prospect,” he said.
“So with the new car and the new economic model, particularly the income, we’re making the sport much more attractive for teams of that sort.”
FIA president Jean Todt has a different view though.
“I don’t think that the priority number one now for a manufacturer is to secure continuity in motor racing,” he said, speaking to Autosport.
“I am hoping that everyone will stay, that’s why we must listen to everybody, even the big ones, you must never take anything for granted.
“So we must consider everything. We must be humble; we love it [motorsport], but it is not essential for society.
“So we must make sure that we make proper choices, proper decisions.
“It will take some time, it will come back and I would really hope that it will come back better.”
