Ecclestone calls for cost cuts

Bernie Ecclestone the boss of Formula One, wants further spending cuts in the sport and calls for the big teams to stop looking through rose-tinted specs.

To be competitive in Formula One you have always needed money, lots of it. The difference between the spend of the teams at the back of the grid such as HRT and Marussia, compared to the likes of Red Bull and Ferrari is not millions, its tens of millions of pounds.

'There are still too many people in Formula One running around with rose-tinted glasses. They obviously like to see the world as they want it to be - wonderful, the sun is shining, isn’t life delightful - and not how it is. The downside of these glasses is that they blind you to reality.'

'Change the colour of your glasses and tighten your belts. Stop spending more than you need to.' Ecclestone told formula1.com.

The recent arguments around the Resource Restriction Agreement [generally referred too as the RRA] has virtually brought FOTA [Formula One Teams Association] to its knees with a number of teams withdrawing from the organisation over the winter.

The teams of course know they must work together and so very little in reality has changed since their high profile withdrawals. Teams like McLaren and Lotus who remain in FOTA are still talking to teams like Red Bull and Ferrari who have withdrawn, they are still making appearances at FOTA fan events and negotiations continue, they have too because this year a new Concorde Agreement also has to be reviewed and agreed.

It's all about politics, something the general fan would love to avoid, but unfortunately is critical for the sport as it shapes its future over the next few years.

Especially when money and team budgets are firmly on the agenda.

Bernie continued: 'The teams have to learn to be competitive without tonnes of money. They have to refocus again on the basics - on racing, spending on the sport - and not on baronial motorhomes and all kinds of entertainment.

'it is very difficult to find a consensus between all the parties involved. Take everyday life - it is already difficult to find consent between two people. Then try that with 12 team principals! Coming to FIA, we see the FIA representatives in the light blue shirts at every race, don’t we? So they are not invisible at all. Believe me, I am working very hard to balance all these different parties and their needs.