Former FIA president Max Mosley believes that Formula One runs risks of more teams going into administration due to the current costs involved in competing in the sport. The Caterham F1 Team went into administration on Friday with debts of £20 million while it was confirmed today that the Marussia F1 Team have also gone into administration.
Speaking to Radio 5 LIVE, Mr Mosley who was president of the from 1994 util April 2009 stated:
'It's not a fair competition anymore. The big problem is that the big teams have so much more money than teams like Caterham and Marussia.'
The Marussia and Caterham F1 Team's will miss the next two Grand Prix of the season in Austin Texas this weekend and the Brazilian Grand Prix in Sao Paolo next weekend. For the Marussia F1 Team if they finish the season in their current ninth place in the Constructors championship they will receive in the region of £30 million in prize money.
FRP Advisory LLP have confirmed that staff at the 190 members of staff at their Banbury based outfit have been paid in full up util the end of October and will continue to operate as normal however it is unclear if the same can be said about the Caterham F1 Team.
Mosley believes that the sport needs to take a serious look at how it shares the revenue among all the teams.
He stated that he believes that the engine manufacturers should have have been given a cap on how much they can charge teams for a supply of power units such as £3-4 million instead of the current £15 - 20 million.
It is understood that the Marussia F1 Team who made the switch to Ferrari power units this season have not paid for their power units this season.
© Ben Johnston 2014