Formula One's financial situation 'alarming' - Schumacher

Schumacher admitted he is worriedly watching the situation from the sidelines.

Nov.29 (GMM) F1 legend Michael Schumacher has admitted he is worried about the sport's financial health.

As teams prepare for the even more expensive 2014 regulations, Lotus and Sauber have already been struggling to pay their drivers and bills this season.

And amid rumours of a possible Marussia-Sauber merger over the forthcoming winter, it is possible the grid could shrink to just ten teams and twenty cars for 2014.

Schumacher, the most successful driver in Grand Prix history, admitted he is worriedly watching the situation from the sidelines.

"It is really alarming," the former Ferrari and Mercedes driver told Bild newspaper.

"Financially it has become a very difficult situation, showing that even Formula One is not immune."

44-year-old German Schumacher, however, has no such money worries, having sat atop the tree as F1's highest-earning driver for many years at Ferrari.

Indeed, now retired, he had been speaking about F1's financial troubles from Frankfurt, where he had travelled in his private jet to collect an original painting called 'Boxenstopp' for EUR 3,500.

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About this article
Series Formula 1
Drivers Michael Schumacher
Teams Ferrari , Mercedes , Sauber
Article type Breaking news
Tags ferrari, lotus, mercedes, sauber, schumacher