25/03/2009
NEWS STORY
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Despite a number of requests for clarification on the issue, the FIA has yet to confirm to Pitpass what exactly is meant by the fact that Brawn was recently confirmed as a 'new entry'.
The press release issued by the FIA following last week's World Motor sport Council meeting, contained the following somewhat ambiguous note: "The Honda Racing F1 Team requested to change its name to the Brawn GP Formula One Team. The WMSC accepted this request on the basis that the team is, in effect, a new entry in the FIA Formula One World Championship. The contract the team had with the FIA was to run as 'Honda', which they are no longer in a position to do. However, the standard fee required for a new entry has been waived."
If the team is indeed a brand new entry, which is what the statement suggests, and is backed up by the fact that the 'new 'team' is relegated to the end of the pitlane and given the race numbers 21 and 22, it would mean that the Brawn GP Formula One Team would not be entitled to its share of F1 revenue for two years.
Pitpass' business editor Chris Sylt claims that "Honda was due £19.3m ($28.4m) for finishing 9th last year and would have received an average £12.4m ($18.2m) on signing the Concorde Agreement.
While the FIA admits to waiving the standard new entry fee, it would probably have been much cheaper for to pay this when one considers the amount Brawn could lose just when it needs it most.
Despite the 'dowry' from Honda, this financial shortfall, combined with the (unconfirmed) reports that Brawn is to shed up to 300 jobs, would suggest that the Brackley team's finances are not quite as healthy as we might have believed.