After three of the most exhilarating consecutive seasons in Grand Prix history — although some believe Red Bull’s utter dominance of 2011 was on the boring side — Formula One seems headed for changes this year. The biggest issue, as typical in today’s post-recession global economy, is money. F1 takes enormous amounts of capital and it’s just not around that much any more. Despite a resource restriction agreement that is designed to level the playing field and allow smaller teams to remain financially solvent (whether or not competitive), the gap between the sport’s leading organizations and grid backmarkers is as large as ever.

The signs of this situation are evident. Marussia, which started back in 2010 as Virgin, released Timo Glock in favor of yet another sponsored “pay driver,” who basically purchased the seat. Caterham let Heikki Kovalainen go in favor of a second paid seat alongside Charles Pic. Paying for F1 drives is not new, going all the way back to Juan Manuel Fangio’s backing by the Argentine government of Juan Péron in the 1950s. But this time it feels different. The difference is that the F1 grid is shrinking, looking today like a far cry from the halcyon era of the early 1990s, when “pre-qualifying” was required to whittle the field to a “mere” 26 cars for Saturday qualifications. Former Toro Rosso driver Jaime Alguersuari, yet another casualty of the paid driver trend, complains that ”F1 has become an auction.”
For some years now, there have been whispers in Formula 1 that all was not well financially with some of the teams. Finally, one of the most senior figures in the sport has put a public voice to them. McLaren boss Martin Whitmarsh says “of the 11 teams, seven of them are in survival strategy.”
Formula 1 teams showing signs of money problems | BBC Sport.
This helps explain, in part, the relentless pursuit in recent seasons of new venues in developing nations (China, India, etc.) where government-subsidized circuits and rising consumer demand are hoped to help attract new commercial sponsors to the sport. But it is unsettling at best and scary at worst. With the advent of sporting regulation changes requiring engines, transmissions and other vital car parts to last for many races, the demise of special qualifying tires, spare cars and in-season testing, the basic parameters of F1 are shockingly different from its historical roots. Some see these as making competition better; others, like this author, see them as a threat to the fundamental nature of F1 as the epitome of automobile technology and engineering.
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