Word: teams
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Dates: during 2010-2019
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...didn't stop car manufacturers like Toyota and BMW from pulling out of the sport anyway (Honda had quit at the end of 2008.) That leaves only three major carmakers - Ferrari (owned by Fiat), Mercedes-Benz and Renault (though the latter recently sold a majority stake in the racing team to Luxembourg investment firm Genii Capital) - still in F1. "The sport just wasn't delivering the value," says John Howett, head of Toyota Motor Sports. For the new season, some of the old names have been replaced by entrepreneurs with more dash than cash. Ecclestone calls the new teams...
Then there are the scandals, and the last few seasons' have been turbocharged doozies. First, in 2007, McLaren was fined $100 million after an engineer was caught with documents supplied by a rogue Ferrari employee. Then, last September, one of F1's most flamboyant team managers, Renault's Flavio Briatore, was barred from the sport for life after the FIA determined that he had ordered one of his drivers to crash in a 2008 race to help out Renault's other driver - Alonso, in this case. Briatore is still fighting the ban. (In January, a French court overturned...
...wind tunnel, for example, costs close to $40 million to construct, not counting the corps of engineers needed to run it. Average annual team budgets had climbed near $300 million and the biggest teams spent $500 million. Sponsorship and prize money rarely brought in half that. "Very few of the teams could actually make any money," says Caroline Reid, who co-authors Formula Money, the authoritative guide to F1's finances. (See a brief history of Formula...
...Mosley's determination to save the sport from itself that led to last summer's crisis. Frustrated by negotiations that went nowhere, Mosley tried to impose a budget cap of $64 million per team. The teams couldn't figure out which they liked less, the cap or Mosley. "Max has an expression: 'Don't wound if you don't intend to kill,'" says Martin Brundle, a former driver who now commentates on F1 for television and manages drivers. "We've all been on the receiving end of that attitude, and it tended to smother all Max's good work...
...pictures were duly splashed across a British tabloid. Mosley sued for invasion of privacy and won, but his moral authority was crippled. "We were within a whisker of reaching a spending agreement in 2008 when Max took the hit," says Adam Parr, who heads the venerable Williams F1 team. "After that, we never managed to get the last piece of the puzzle in place...