Top Formula 1 teams are unlikely to accept a drop in prize money after the expiry of current commercial contracts in 2020, according to Red Bull boss Christian Horner.
Earlier this week, F1 chief Bernie Ecclestone revealed his intentions to introduce a more equitable, performance-based prize distribution system, similar to the one seen in English Premier League. This would bring an end to the current regime under which certain top teams receive extra payments based on their ‘historic’ status.
But Horner, whose Red Bull team is one of the beneficiaries, says that the top teams are unlikely to accept lower payments from FOM.
He insists that Ecclestone should try to increase the sport’s revenue and pump the extra money into smaller teams, instead of taking something away from the larger outfits.
"It's like with all these things, you've got to be comfortable with the amount of money you are receiving," he said. "If the money goes up for everybody that's less of an issue than if the money has to go down for some of the teams.
"So if more revenue can be brought into the sport it's for the promoter to decide how the revenue is divided, but of course all the teams will have an issue if there revenues drop."
Horner also justified Red Bull’s bonus payments, saying the energy drinks brand actively promotes Formula 1 through its road show programme and through other means.
"They were centered around the other aspects Red Bull brings to Formula One in terms of we're probably the only company/team that goes out and actively promotes Formula One with our show-car activities, the activities we have worldwide,’’ he explained.
"We were the first team to run in Baku. Maybe that was a contributing factor to them deciding to have a grand prix there. We've run cars up mountains, cars up beaches, places where you wouldn't expect to see grand prix cars, taking it out to the mass public.
"Red Bull does a fantastic job of promoting Formula One, and on top of that we have two grand prix teams and a grand prix circuit."
by Rachit Thukral