Formula One risks losing more teams in costs are not controlled

(Sauber F1 Team)

The FIA president Jean Todt is under increasing pressure to intervene in the financial crisis in Formula One at the moment which has seen both the Marussia and Caterham F1 Team's enter administration while the Marussia F1 Team officially ceased trading last week the Caterham F1 Team have resorted to crowd funding as a way to raise the £2.35 million the team need to finish the 2014 season in Abu Dhabi next weekend.

Sauber F1 Team principal Monisha Keltenborn has now called on Mr Todt to intervene directly and introduce cost capping measures that would help to ensure the future of the sport and the financial viability of teams like her own Sauber F1 Team who are facing the prospect of failing to score a point in a Formula One season for the first time in the teams history in Formula One.

Speaking to Autosport however Keltenborn admitted that she is not confident that the former Ferrari team principal will step in as the last time they relied on him to introduce cost controls in Formula One which had been voted for by all teams nothing happened.

The Swiss based outfit have as a result been forced to bring in two pay drivers for next season as both Marcus Ericsson and Felipe Nasr bring financial backing. Nasr in particular brings sponsorship money from Brazilian oil company Petrobas.

In 2010, Formula One welcomed three brand new teams into the sport and in the space of five seasons all three of those teams have either ceased trading or faced serious financial difficulties as they entered the sport under the promise that the sport would have a budget capped at £40 million however that failed to happen.

If something is not done to address the situation soon, Formula One will lose more teams such as Sauber, Lotus or Sahara Force India Formula One team' with the simplest option being introducing a fairer way of distributing the money brought in from television rights.

© Ben Johnston 2014