Word: formula
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More Dash Than Cash Last summer, it looked like the sport might cease to exist altogether. Angry at Formula One's decision to impose a team-spending cap, Ferrari, the oldest team on the grid, threatened to lead the biggest marques in a rival series. The teams pulled back at the last minute, but demanded that Max Mosley, the president of the governing Federation Internationale de l'Automobile (FIA), stand down after 17 years. Mosley...
...Read: "Can Formula One Run Without Ferrari...
...court overturned it; the FIA is appealing that decision.) "At times it felt like the whole thing was imploding," says former F1 driver Mark Blundell, now owner of 2MB Sports Management. "I saw a lot of things I didn't like, and it hurt." (Read: "A Record Fine for Formula...
...corps of engineers needed to run it. Average annual team budgets had climbed near $300 million and the biggest teams spent $500 million. Sponsorship and prize money rarely brought in half that. "Very few of the teams could actually make any money," says Caroline Reid, who co-authors Formula Money, the authoritative guide to F1's finances. (See a brief history of Formula...
...average of $722, a rise of 50% from three years ago. Average three-day attendance fell from 187,724 in 2008 to 161, 613 in 2009. "In Bahrain, all you could see in the stands were a few civil servants," says one attendee. (See a brief history of Formula...