Leading Formula 1 teams could be considering a union to fight against Liberty Media’s financial plans it has been reported.
Since completing their takeover as majority shareholders last month, the sport’s new bosses have talked about solving the financial inequality between the top teams and those at the back.
Deputy chairman Greg Maffei even suggested Ferrari should consider handing back their $100m historical bonus which they receive under the current Concorde Agreement.
Now those teams who receive such bonuses could look to bolster their position by coming together in an effort to resist any move by Liberty to reduce their privileges in future negotiations.
Such a union would be similar to the former Formula One Teams Association which was disbanded in 2014 as areas of agreement between the parties become fewer and thus reduced its political power.
The impact, however, could lead to a greater division between the powerful outfits and the smaller teams clawing for a greater slice of the revenue pie.
There is also the alarming prospect of another threat to breakaway from F1 should there be areas of dispute between the top teams in a union and the new hierarchy, that, though is merely a worst case scenario at this time.
An unnamed team boss admitted that efforts to change the current structure could be “fraught” but added: “We must all work together for the good of F1 by helping Formula One Group.”
The issue of financial inequality is also part of a recently called EU investigation into whether the sport is run with anti-competition practices.
UK MEP Anneliese Dodds, who put forward the request for an investigation following complaints from Sauber and Force India, pointed at the recent collapse of Manor as proof of the current unfairness.
Something former team owner Giancarlo Minardi agrees with.
“When a team leaves F1 it is a failure of the whole system,” he claimed.
