Formula 1 may not introduce changes to the sport’s revenue structure, including its contentious prize money payments, in time for the 2021 season.
“The’s sporting and technical regulations, they’re finite, they have to be done in time for ’21. There’s the new governance which has to be done for ’21. Cost control has to be done for ’21.
“The revenue we would like to see in place for ’21. But of course we all know in the past that’s been a soft deadline. There’s been many occasions, certainly in my career, where existing commercial agreements have been delayed of phased over time.”
RaceFans previously revealed each team’s share of F1’s prize money for the 2019 season. F1’s current commercial agreements expire at the end of 2020, meaning some kind of agreement on how F1 teams will be paid is needed for 2021 and beyond.
However Brawn is confident teams realise the need to reform how the sport’s revenue is shared between them. “The teams know we’ve got to save them from themselves,” he said.
“We want the best to still succeed. But we just don’t want them to be dominant, we want to close the field up and we want as fair a contest as we can. We still want the grandees, we still want the names. But I think it can all be done for a lot less money and produce a more entertaining package.”
Ferrari receives by far the largest individual bonus payment of any team and also enjoys power of veto over changes to F1’s rules. Brawn said the future of Ferrari’s privileges is under discussion.
“I think you have to recognise Ferrari’s position in Formula 1,” he said. “They’re the oldest team, they’ve been there since the very beginning. They’re the biggest brand in Formula 1. I worked for 10 years at Ferrari, I understand the importance of Ferrari.
“But that has to be reasonable. That has to be balanced. It must be a respect for Ferrari which doesn’t corrupt the competition. I don’t think it will.”
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