(Sahara Force India Formula One Team)
Formula One supremo Bernie Ecclestone has accepted responsible for the current financial crisis that the sport finds itself in. Speaking during a media briefing at the Circuit of the Americas in Austin on Saturday evening Mr Ecclestone who has seen two teams in Formula One go into administration in the space of a week stated:
'There is too much money being distributed badly. probably my fault. Like lots of agreements people make, they seemed a good idea at the time. I know what's wrong, but don't know how to fix it.'
Ecclestone also dismissed the notion that the Sauber F1 Team, Sahara Force India F1 Team and the Lotus F1 Team will boycott tomorrow's United States Grand Prix at the Circuit of the Americas saying:
'They will be racing, I give you a guarantee. But I worry if they will be racing next year.'
He went on to say that if the bigger teams don't want to see more team's fail then they would have to give up some of their income.
Ecclestone said that the contracts are in place and that they cannot be changed in relation to the distribution of the money but that if he could he would tear them up. He did say however if the team's came to him with a solution he would listen to what they have to say.
Ecclestone's comments come in a week which saw both the Marussia and Caterham F1 Team's enter administration.
© Ben Johnston 2014
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