Back in 2015 the FIA invited bids for a Formula 2 Championship with the stipulation that the budget be restricted to $1.5 million per car per season, a deal for seven years with an option for another six and a guarantee of 20 cars. No-one was interested in the terms on offer, but eventually a deal was hammered out with the Formula 1 group to turn GP2 into Formula 2 in 2017. The budgets were by then getting close to $2 million per car, making it difficult for teams to find drivers, unless they were from wealthy families, or they were supported by F1 junior team programmes. There are similar problems in Formula 3, with European Championship budgets now around $800,000 per car per season. In an effort to help out the FIA fiddled with the Superlicence rules to make drivers go through Formula 2, but it has been clear for a while that getting a full field of 26 cars in F2 was going to be impossible in 2018, when the series starts a new three-year cycle, with a new turbo engine and a new Dallara chassis.
The GP2 Motorsport Ltd company, which oversees both Formula 2 and GP3 showed a profit margin of 18 percent in its last registered accounts, back in 2016, with a gross profit of $4.4 million on a turnover of $25 million, $14.4 million derived from Formula 2 and $10 million from GP3. The activities have now been taken over by a new company called Formula Motorsport Ltd, while European Formula 3 is promoted by Formel 3 Vermarktungs GmbH. In an effort to keep up entries, the FIA and the promoter have increased prize money considerably in Formula 3, but it is clear that more needs to be done and the likely outcome is that there will be a new Formula 3, run alongside Formula 2 at Grands Prix, but based on machinery that is more advanced than the national F3 championships, but a great deal cheaper than all the current machinery.
As to Formula 2, a similar cheaper concept is going to be required sooner rather than later, although a change of attitude from Liberty Media (which is possible) could provide a better value championship that would draw more teams and better drivers, something which can only be good for the sport.
Source: JSNL
No comments:
Post a Comment