Ecclestone: “F1 will survive financial crisis” 

Written by David on December 05th, 2008 at 1:26 pmLast Update: December 05th, 2008 at 1:26 pm

Bernie EcclestoneIn an interview with BBC, F1 supremo Bernie Ecclestone has expressed his disappointment for Honda’s decision to withdraw from Formula One but believes firmly that the sport will survive the current global financial crisis. “Everybody has been working like crazy to reduce the necessity to spend to be competitive. Even yesterday there was a meeting of the technical people to change the regulations in order for this to take place, and I have no doubt that there would have been a drastic reduction in the cost and the necessity to spend to be competitive,  which is what we’re tying to do,” said Ecclestone.

“It’s also a big big shame for Honda because I’ve no doubt that team would’ve been running in the top four next year without any problems. They’ve spent a lot of money to put themselves in that position, so if anyone does want to be in Formula One, this is the team they should certainly look to buy,” he continued.

“I think Formula One is in no bigger crisis than any other company throughout the world. The world is in crisis at the moment but it won’t stop – the world won’t stop, that’s for sure,” he added.

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