SPIELBERG, Austria -- Bernie Ecclestone has revealed more details about his plans to scrap bonus payments to Formula One's five biggest teams.
Ecclestone said this week that he will introduce a fairer system whereby prize money would be more closely linked to the previous year's performance rather than each team's historical status within the sport. Under the current arrangements, which expire in 2020, Ferrari is guaranteed a $70 million bonus each year based on its long-standing position in F1, while Red Bull, McLaren, Mercedes and Williams have additional bonuses negotiated on top of the standard prize money.
F1's smaller teams have long campaigned for a more equal distribution of the sport's revenues and Ecclestone says his new system will give them the chance to earn a bigger share by scoring better results.
"At the moment they have no chance with this money that we give them," he said. "They don't have any chance. But we are going to make sure they are in a position where they do [have a chance] if they perform. Then they will be in the same position as anyone else.
"[Under the current contracts] we sort of look after - if that's the right word - four or five teams because they have had a long-term commitment with us and they signed four or five years ago to stay until 2020. So they needed something for doing it and the other teams couldn't sign or if they would sign and they stopped, what could we do?"
However, the 2020 agreement is still in its formative stages and will require the agreement of all the teams wishing to remain in the sport. Historically, Ferrari has held a withdrawal from the sport as a trump card in their negotiations with Ecclestone, allowing them to cut the best deal.
Asked what he would do in a similar situation this time around, Ecclestone said: "They've said it a few times [that they will quit]. I think they are genuine when they say these things. They just forget, that's all."
But he later added: "Let's have a look at it. Ferrari has been with us since F1 started so they should get something for that."
When it was put to Ecclestone that the new system could be introduced before the current contracts expire in 2020, he said that would require the unlikely agreement of all the teams.
"That's something that we'd have to get Ferrari and people to agree to. But after that we don't need them to agree."