Bernie Ecclestone has hit back at claims costs are too high in formula one, insisting the teams waste too much money.<\/p>\n
It has been reported that with the exception of ‘big four’ Ferrari, Red Bull, McLaren and Mercedes, every team in pitlane is groaning under financial strain.<\/p>\n
And costs are only set to rise, with the return of in-season testing next year and the vastly more expensive turbo V6 ‘power units’.<\/p>\n
“They will have to find a way to be competitive with less money,” an unsympathetic F1 chief executive Ecclestone told Germany’s Auto Bild.<\/p>\n
“They need to refocus on the essentials, and that is the racing and the racing cars, not huge and meaningless motor homes,” he added.<\/p>\n
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