Each missed race costs AlphaTauri around $NZ3.6million, according to team boss Franz Tost.
The Formula 1 season is currently in a holding pattern due to the coronavirus pandemic that has plagued the world. As a result, the teams in F1 are starting to feel the financial pinch.
Speaking with Motorsport.com, Tost said the financial strain put on the teams will prove to be significant if racing does not resume by winter.
“The contracts are designed in such a way that we lose revenue proportionately if races are not run, because the agreed amount is then reduced.
“If we don’t drive a grand prix, [the estimate is] it will cost one and a half to two million.”
“If we start racing in July, we’ll get off with a black eye. If that’s not the case, things will get very critical.
“If nothing comes in at all all year round, it will be a very critical matter. If you don’t get any income at all, it’s obviously a disaster economically.”
The FIA and Liberty Media are in discussions with the teams about bringing down the level of the cost cap set to be introduced going forward.
Tost has emphasised that F1’s financial platform needs to be revised in order to make things more sustainable in the long run.
“One example: Is it still necessary for us to have as many people in the wind tunnel as we have now?
“We need to see what races we do, what the revenue is going to be and what the sponsors are going to be.
“Will they stay, will sponsors drop out? What is the whole economic situation like? Only then can we talk about a cost cap.”
Source: Motorsport.com
