Formula One's team bosses admitted yesterday that sport may be on the verge of financial crisis as world economies head towards recession.
Jordan boss Eddie Jordan and BAR counterpart Craig Pollock admitted that they had already lost sponsors because of the growing economic uncertainty, particular in the high tech areas which Formula One sponsorship managers have targeted in recent years. And both added that in the future smaller teams may need financial guidance and even assistance from the sport's major powers.
"We have felt the effect," said Pollock. "We've had sponsors we've been dealing with actually say they are not going to come on board now because of the downturn, even if they were small sponsors. I think every team needs to reflect on what has happened because it is going to affect the whole of Formula One. I think it's going to be harder and harder to fill up the sponsorship books and the teams should get closer to discuss it."
Eddie Jordan concurred, adding that it will be up to the major players, like Ferrari and McLaren, to aid the smaller teams who may be in danger. "It would be preposterous to think we are immune, that every other company can cut budgets by 30, 40, even 50 pe rcent and that we are recession proof," he said. " Unless we cut our cloth to suit what is required then we will suffer the penalties. One of the things I remember was in the early '90s when I came into the sport there were 18 teams and by '93 that had gone down to nine or ten. We mustn't let everything go amiss at this stage.
"I think there is immense responsibility on teams like Mclaren and Ferrari and Williams to guide us through this because they are the successful ones. If we want to have a strong, meaningful F1 championship for years to come, we need to make prudent steps to encompass the crisis that we are about to enter."
Jordan's words may sound like scare-mongering but with sponsors already pulling out, minnow such as Minardi and Prost, already in danger, could find themselves unable to meet the demands of a sport in which yearly budgets run to $100 million. In a climate of economic uncertainty the collapse of lesser franchises, with the grid now limited to 12 teams, may result in those gaps being difficult to fill as major industries and motor manufacturers in particular fight shy of spending hundreds of millions in developing a product which ultimately may not be successful.
Mclaren boss Ron Dennis also issued a chill warning. "Whether all the teams survive, we'll have to wait and see. The big teams are just as exposed as the smaller one. Like Craig we have sponsors one the brink of agreement that have pulled back and are reassessing where and how to spend their money. It's going to be a tough time. And as for the big teams helping out the small ... the teams always spend what they've got. They have done and always will do so."
Turning to his choice of drivers for next season, Jordan also yesterday insisted that new driver Takuma Sato had been signed by his team on merit and that his relationship with works engine supplier Honda had little to do with the decision to take on the young Japanese pilot.
"The signing of Sato has nothing at all to do with Honda," said the team boss of the recently crowned British F3 champion. "He got there entirely on merit."
Asked he had also considered Sato's countrymen Ryo Fukada, who recently won the French F3 championship, or Toshihiro Kaneishi, who is close to sealing the equivalent series in Germany, Jordan replied that he felt Sato's performances had been of greater quality.
"The turning point for us beyond all doubt was his performance at Zandvoort," he said. "It's the blue riband event in F3 and he won by 12 or 14 seconds from pole. It was a masterful performance. The other drivers are a very good, very real recommendation of the quality of drivers in Japan. That they have come to the cut and thrust (of racing) in Europe is good and I commend them for making that move.
"Sato won 12 races and what he has achieved there and in Craig's (Pollock) car is highly commendable. He will be a big asset to Formula One for sure."
Sauber, too, have once again gambled on youth. At the beginning of this season the Swiss team signed Finnish rookie Kimi Raikkonen from Formula Renault. Many decried the choice of a driver who at the time only ever driven 23 professional races. Since then Raikkonen has racked up nine world championship points for Sauber with a string of condfident and error-free performances and will next year replace Mika Hakkinen at McLaren.
Yesterday Sauber announced that they were again opting for youthful brio with the signing of 20-year-old Brazilian Felipe Massa as their second driver for 2002 alongside Nick Heidfeld.
Hakkinen, meanwhile, insisted that he will return to racing in 2003, after he has completed his sabbatical from Formula One. "I don't think it will be a problem," said the double world champion when asked whether he felt climbing into a F1 car after a year out would be difficult. "There is definitely a couple of examples of people coming back and doing tremendous jobs when they returned so I see no problem with it."
On the track yesterday, Jean Alesi was quickest, the Jordan driver clearly relishing his last ever grand prix weekend, though there was more than the sniff of a suspicion that the Frenchman was running with a low fuel load.
Nevertheless, Alesi was delighted to finish ahead of second placed Juan Pablo Montoya and third-placed Pedro de la Rosa, also suspiciously high up the Friday rankings.
"Things cannot be better than finishing first on my last Friday," said Alesi. "I really enjoyed the session. From first thing this morning the car felt really competitive and then, working with my race engineer, we made even more progress." Team-mate Jarno Trulli's 11th place was perhaps a closer indicator of Jordan's real expectations for the weekend as the Italian spent the day working on race trim.
