Renault’s CEO Carlos Ghosn has launched a blunt attack on the way Formula 1’s commercial rewards are distributed – and called for the teams to “take back control” of the sport.
As the dispute between the FIA and the teams over F1’s rules and rule-making process rumbles on, Ghosn has turned his fire on the sport’s commercial structure, arguing that the teams should receive a much larger slice of its revenues.
Addressing France’s National Assembly on Wednesday, Ghosn argued that the teams create the value in F1 and should therefore gain the financial benefit from its success.
“We are the ones who make the show,” he was quoted as saying by news agency AFP.
“We bring the technology, we bring the engines, and we hire the drivers.
“And if we make the show, it’s only right that the revenues of Formula 1 must come back to us.”
The 10 F1 teams currently share 50% of the revenue from television rights, trackside advertising and race hosting fees, with the remaining 50% going to commercial rights holder CVC.
Ghosn said the whole concept that the teams should hand over half of the sport’s income to a third party needed to be challenged.
“Today we pay to be in Formula 1 ; that is not normal,” he said.
“The middle men have made enough money.
“We want to take back control of Formula 1.”
While Ghosn was rehearsing an argument made by the teams numerous times in recent years, few have used such combative language or stated the ambition to regain control of the sport so baldly.
The Formula One Teams’ Association pressed the case for a redistribution of revenues over the winter, but got short shrift from CVC’s representative Bernie Ecclestone.