Force India team co-owner and principal Vijay Mallya believes Formula 1 is heading toward a scenario which could see several of the smaller teams drop out due to financial concerns.
The Indian, who himself is struggling financially with the sale of his beers and spirits company to cover mounting debts from his airline, warns that F1 must change to ensure its survival.
“On one hand the FIA and FOTA – when it existed in full strength – had resolved that we need to reduce the costs of Formula One,” he told the official F1 website.
“But rather than reducing costs, one or two teams have decided winning at any cost is more important than the sustainability of the sport, so there is no resource restriction that is implemented, quite contrary to the fact that costs are going up.”
Mallya is keen for the sport to come together and agree a way forward, otherwise just a handful of teams – those that can afford it – will exist.
“Whether it is the commercial rights holder, the FIA, or the teams themselves, I think it is very necessary that all the important stakeholders sit across the table and find a viable solution.
“If you only want three or four teams in Formula One running three cars each you should proceed in the way it is now. But I think Formula One also needs the smaller independent teams as well, so everybody must also look at the common interests – not only the individual interests.”
