ING to withdraw from F1 in 2010

It was announced yesterday that ING will end it’s participation with Formula 1 when the 2009 season draws to a close. The Dutch financial giants are the title sponsors for both Renault and the Australian, Hungarian and Belgian Grands Prix, but after being hit hard by the global financial crisis, and receiving 10 billion euros [...]

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Toyota remain commited to F1 despite first loss

Japanese car manufacturer Toyota is expecting to record it’s first ever loss at the end of the financial year in March. Following on from the initial prediction of a $6.7 billion profit, the corporation is now forecasting a loss of $1.7 billion in the wake of the global financial crisis which has hit the car [...]

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Honda withdraw from Formula 1

Honda ended hours of frantic speculation last night, by confirming that they will pull the Honda Racing F1 Team out of Formula 1 with immediate effect. The major shock announcement was made by the president and CEO of Honda, Takeo Fukui, who blamed the pull out on the global financial crisis.
The decision was made with [...]

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Ferrari threats over engine homogenization

Ferrari have threatened to pull out of Formula 1 if the plan to standardise engines after 2009 goes ahead. They are the second team to make such a threat after Toyota warned the standard engines would leave the manufacturers with little interest in the sport.
A statement released by Ferrari said “The Ferrari Board of Directors [...]

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Mosley heads cost-cutting talks

FIA president, Max Mosley, will meet with the Formula One Teams’ Association in the days following this years Chinese Grand Prix to discuss urgent cost-cutting measures to secure the future of Formula One after 2009.
In an interview with the BBC on Tuesday, Mosley expressed serious concerns over the not-too-distant future of the sport, saying “If [...]

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