Ecclestone: F1 teams shouldn’t need a budget cap

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Bernie Ecclestone has weighed in on the cost cap debate currently dominating Formula 1’s political scene, and has questioned why teams cannot work to cut costs themselves without the imposition of budget limits.

Many efforts have been made over the past five years to introduce a cost cap in Formula 1 after spiralling costs have threatened the future of a number of teams, and has claimed a number of high-profile scalps. Honda, Toyota and BMW all left the sport between 2008 and 2009 due to spiralling costs, but little has changed economically since then.

For Ecclestone, it is simply a case of the teams looking in the mirror and finding a way to self-regulate.

“The teams can cut costs so why don’t they spend less? I don’t think they need a budget cap,” he told The Independent. “The people who don’t need a budget cap will find their way round it.”

The teams further down the grid – Caterham, Marussia, Sauber and Force India in particular – have been pushing for a cost cap in order to become more competitive. However, without having a secure future in the sport, Ecclestone believes that it is unreasonable for them to expect to have a say.

“There are four teams that are not in the Strategy Group and why not? Because the people that are have committed to racing in Formula One to 2020 and have put up sensible guarantees if they don’t,” he said.

The 83-year-old also used the cost cap debate to deal yet another blow to the new engines, believing that the price of implementing them was far too great.

“Tell me, what was the idea of the cap? To keep costs down. So we put this engine in and it costs four times more than the other one, and costs the manufacturers a hell of a lot of money,” Ecclestone pointed out.

Although the teams should indeed be able to cut costs and keep an eye on their own finances, the pursuit of race wins and championships is almost entirely dependent on spending power. All of the successful teams in recent history – Mercedes, Ferrari, Red Bull, Renault and McLaren – have a product backing them (although McLaren is a semi-exception).

The likes of Sauber and Marussia, on the other hand, exist to race, making financial solvency difficult at times. They will not be giving up on the cost cap, even if the likes of Red Bull and Ferrari are happy to spend as much as it takes to win.

Is it really possible for the teams facing financial difficulties to commit to the sport until 2020? And should they really be excluded from the ‘big boy’ strategy group because of this?

Without a cost cap, the teams will continue to spend and spend. They should be able to self regulate, but guidance is required.

This debate will, as it has done for five years now, only continue to rumble on and claim more victims.

Carb Day: Tony Kanaan is fastest in final practice for Sunday’s Indy 500

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Tony Kanaan wants to put legendary driver and team owner A.J. Foyt back into Victory Lane at the Indianapolis 500.

Kanaan took a big step toward achieving that goal in Friday’s final practice for Sunday’s 102nd running of the Greatest Spectacle In Racing.

Kanaan was fastest of the 33-driver field, with a best lap around the 2.5-mile Indianapolis Motor Speedway oval at 227.791 mph, more than 2 mph faster than the second-fastest driver, Kanaan’s former teammate, Scott Dixon (225.684 mph).

Foyt won a record-tying four Indy 500’s as a driver. It’s been nearly 20 years since he also won as a team owner in 1999 with Kenny Brack behind the wheel.

Marco Andretti was third-fastest (225.200 mph), followed by Sebastien Bourdais (224.815), Charlie Kimball (224.712), 2017 Indy 500 winner Takuma Sato (224.083), Will Power (223.942), Danica Patrick (223.653), Spencer Pigot (223.584) and Ed Jones (223.556).

Other notable driver speeds included:

* Pole sitter Ed Carpenter was 14th fastest (223.219 mph).

* Reigning Verizon IndyCar Series champ Josef Newgarden was 15th (223.186 mph).

* Helio Castroneves, hoping to earn a record-tying fourth 500 win, was 17th (222.913 mph).

* Graham Rahal was 21st (222.526).

* Former 500 winner Ryan Hunter-Reay was 26th (221.916 mph), followed by rookie Robert Wickens (221.821 mph), carrying the mantle for Schmidt Peterson Motorsports with James Hinchcliffe having failed to qualify for the race.

* The biggest surprise was 2016 Indy 500 winner Alexander Rossi, who was 32nd fastest (221.374 mph).

We’ll have the full speed grid, as well as full driver quotes, shortly. Please check back soon.

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