JANUARY 15, 2003
Small teams get a deal
Details are beginning to emerge of a deal which has been brokered between the Formula 1 teams and F1 paymaster Bernie Ecclestone, which will see the smaller F1 operations given some financial security in the year ahead. The details of the deal are still not entirely clear as no-one wants to talk about the arrangements but it seems that some of the TV money which would have been earmarked for the defunct Arrows will now be going to the teams which are struggling and that Ecclestone has agreed to pay out more of his share of the TV income to help keep them in business. It is also understood that guarantees may have been made for the smaller teams to ensure that they are able to secure engine supplies. Cosworth Racing has adopted a very strict system of guarantees having lost money in recent seasons because clients have failed to pay. The company is currently taking legal action against Tom Walkinshaw to recover some of the money which is owed to it by Arrows.