Ecclestone Admits New Teams Suffer Financially

The fact that all the new teams – Virgin, Lotus and HRT F1 – have been granted an entry into the 2010 Formula One Championship under budget cap expectations is starting to show. The cars they have managed to develop over the winter are clearly not as competitive as initially expected, and that’s mainly because the outfits had little money to pour into their development programmes.

As most of you might remember from last summer, the new teams were given the go-ahead to prepare themselves for t… (read more)