Word: teaming
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...keep the cost of running a Formula One team in check, prevent teams from leaving, and to make racing more competitive and exciting, the sport's ruling body has brought in a slew of new rules over the past three years. Key changes...
Toward the end of last season, Mosley and the teams finally compromised on something called a Resource Restriction Agreement that takes effect this season. It isn't a cap, but it clamps down on runaway costs like wind tunnels and in-season testing. The big teams can still outspend their smaller rivals on, say, computer simulations, but just about everything in F1 is downsizing. It's now possible to field a respectable team, if not a winning one, for $100 million a season. New FIA president, former Ferrari manager Jean Todt, has pledged to bring costs down further...
...balance, F1's move eastward is good for the sport. Last year, more than a third of F1's TV viewers came from China and Brazil alone. India hopes to host a race in the next few years. "Doing an American team makes a lot of sense as the sport moves away from Europe; those are the markets that American companies want to reach," says Peter Windsor, who is trying to get the new USF1 team off the ground. It also helps explain why YouTube co-founder Chad Hurley is pouring money into F1. Still, much of the sport...
...driver named Sebastian Vettel whose nickname is Baby Schumi. With Alonso and Felipe Massa behind the wheel, Ferrari is again a strong contender, and Ferrari, by general consensus and its own elevated self-image, is the beating red heart of F1. Three out of 4 fans who follow a team are Ferrari fans. (See the most expensive car ever auctioned...
Ecclestone, a former driver and team owner, began to exert control over F1 in the late 1970s, when he got a lock on the sale of the sport's TV rights, its most valuable asset. In 2005 he sold most of his stake in Formula One Management to private equity firm CVC Capital Partners. But thanks to a complicated ownership structure, he's still the straw that stirs the drink. Ecclestone alone makes the big TV, sponsorship and track deals that keep F1's cash gushing. He rests his legacy on the numbers, and they are indeed impressive, not least...