Formula One teams in financial crisis

Formula One teams in financial crisis

McLaren boss Ron Dennis concerned that the world championship could lose “one or two” teams.

There have been a couple of exciting races this year, with the promise of new engine regulations spicing up the 2017 world championship, but some teams towards the rear of the Formula One grid are struggling to survive economically.

McLaren chairman Ron Dennis senses one or two teams could exit the championship before the end of the current season.

Speaking with F1 Racing, Dennis said that while he is happy with F1’s overall stability, there were individual teams in financial jeopardy.

"I wouldn't be too surprised if one or two of those teams fail to make it to the end of the season," he said.

But Dennis suggests that the teams’ parlous situations are a result of their own financial mismanagement, rather than evidence of any central problems with F1. He suggested the teams in strife have been spending more money than they have and ignoring basic economics.

He blamed the sports addictive qualities, which encourage some players to overspend in the belief that the next performance upgrade will miraculously make their cars competitive.

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