Marussia pushing for prize money equality
The Marussia F1 Team need all the money that they can get, but despite sitting in the coveted 10th position in the constructors (somewhere rivals Caterham would love to be) they currently look to get none of the expected £35million advantage due to not signing a commercial deal with Bernie Ecclestone.
Ecclestone holds the role of representative of CVC Capital Partners – who are the private equity owners of the sport – and has previously said that a deal is on the table for Marussia to sign. However Chief Executive Graeme Lowdon hasn’t so far as he wants to see more equality between the teams.
Speaking to the Times, Lowdon said: “All we ask for is a level playing field; all teams should be treated equally. For whatever reason, that does not seem to be the case. We just don’t have a deal with the commercial rights-holder. Why should that be? This sport is full of strange mysteries and that is one of them.”
Ecclestone directly reports to the CVC board that Lowdon feels are responsible on the current inequality: “That board has to make a decision on how it treats companies it deals with. We are one of those companies, and it chooses to treat us differently. It doesn’t make any sense to me, but then I don’t work for CVC. Maybe they have a master plan.”
Whilst Red Bull can spend their money without worrying too much about their own budget, Marussia has to keep a close eye on their spending in order to stay afloat and keep improving. Lowdon feels that each participant in the championship should treated with higher levels of respect and CVC are responsible for looking after those involved: “This is the Formula One World Championship, not the world championship of private equity excellence. My view is that the championship is bigger than the participants and that is the reason why CVC have a successful investment. It should be treated with a high degree of respect, including the participants.”
Image courtesy of Marussia F1 Team
Jack Leslie is a freelance motorsport and Formula 1 journalist. He has been part of the Richland F1 team since the very start and made his F1 paddock debut for the website at the 2014 Austrian Grand Prix. Jack also writes for Car Throttle, RumbleStripNews, Formula1Blog, PureF1 and F1 Plus, as well as running a popular blog.