Financial Assitance for new teams

[aryan]

New teams will get financial support from Bernie.

http://www.autosport.com/news/report.php/id/74950

"Bernie Ecclestone's Formula 1 Management (FOM) has agreed to make an annual payment of $10 million to each new team as well as offering free transportation of two chassis, plus 10,000kg of freight, to each race.
It will also offer 20 economy class air tickets for each new team for events held outside Europe."


This, plus the budget cap will really make it attractive to enter F1 now, don't you think?

[wmcot]

It would be nice if he also offered financial support to some tracks (esp. North America!)

[leopard]

Good news..., Financial assistance would be an obvious inducement for new teams to come into being, although new participants may not notice too much into the offer and decide to run taking part in the competition using their own resource.

But, while we are currently stepping into first day of May, would it give enough time for applicants only within a week to submit their application and set for selection before the accepted entrants are published...

[V12]

I admit this is a bloody good breath of fresh air, going from penalising new teams financially (the bond, etc.), to actually following common sense and giving them a leg-up. I won't hold my breath but if this does happen, then credit where credit's due.

For once.

[veeten]

Hmmmm... from Public Welfare to Corporate Welfare to,...

Motorsports Welfare! 'Racing on the Dole.' ;) :p :

[ArrowsFA1]

Quite a turnaround from the $48m bond that new teams were required to lodge with the FIA not so long ago, and very welcome too.

[wmcot]

Quite a turnaround from the $48m bond that new teams were required to lodge with the FIA not so long ago, and very welcome too.

I haven't read that the $48m bond has been done away with. Do you have a link?

It seems that removing the $48m bond would be enough "financial assistance" in itself.