Friday, December 26, 2008

Save Formula 1

Formula One is a sport in which teams have been spending up to £180m a year on engines and one gearbox can cost £9m (Source: BBC).

Just like the US auto industry, AIG and American Express (which, with CIT, received approval to get $5.72 billion under the US government's financial bailout program on Tuesday) Formula 1 needs a public subsidy to survive.

Ignore Martin Brundle's eight-point plan to save this most beautiful, legendary form of motor-racing - the sport is facing extinction because of a dearth of sponsorship dollars in the wake of the global economic collapse, and as such, should have no qualms about asking Her Majesty's Government for support.

After all, if Britain will bail out Jaguar and Land Rover, why not Bernie Ecclestone?

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