F2, F3 to focus on cost saving instead of driver scholarships

Formula 2 and Formula 3 organisers will continue its drive to reduce costs instead of creating a driver scholarship initiative helping competitors raise funds during a covid-impacted economic climate.

F2, F3 to focus on cost saving instead of driver scholarships
Listen to this article

Uncertainty caused by the coronavirus pandemic has created a much more difficult environment for drivers to secure budgets to compete in the F1 feeder series this year.

It is anticipated that not all drivers on the F2 and F3 grids will see out the year due to the tough economic conditions. It is thought a figure in the region of €2 million is the price tag to contest a season in F2.

F2 front runner Richard Verschoor has already revealed that he is yet to secure the funding to contest a full season and could only confirm his attendance at Monaco this weekend just days before the event. Meanwhile, Matteo Nannini has switched his focus from dual campaigns to F3 only due to financial concerns.

While the championship organisers are fully aware of the challenges drivers face to raise funds in these unusual times, boss Bruno Michel says his team will continue working to reduce costs to compete.

Cost cutting measures have been introduced this season with F2 and F3 will conducting fewer rounds, but the same amount of races compared to previous years through a new three race weekend format.

The two championships have also been split and held on alternate Formula 1 weekends to help reduce staffing and travel costs to teams competing.

Michel believes a cost saving drive would be more beneficial than creating a driver scholarship system, similar to the ‘Road to Indy’ programme in the US, to help talented drivers progress or those in need of support.

“We are not working on that [a driver scholarship system],” said Michel when asked by Motorsport.com about the possibility of an initiative being set up to help drivers struggling for budget.

“The problem is always the same if you are helping some drivers why this one and not another one and it is quite difficult to say that we will help the fastest drivers or the ones with the best results. The situation is very different from one driver to another.

"Now we have a lot of drivers part of Formula 1 driver academies whether it is in F3 or F2 and it is very important. Some of the drivers have sponsors or a personal situation that allows them to do well and some others it is more difficult but that has always been the case.

“At the moment finding 30 drivers in F3 has been easier than finding 22 drivers in F2 but that depends on the season.

Read Also:

“Whether we should put a scholarship together, I don’t think so.

“I think the way to try to help the drivers is what we have been doing and what we have tried to do all the time is to decrease the costs and try to increase the revenue to the teams, so that that they hand a decreased cost to the drivers.

“That is what we are trying to achieve and so far let’s say it has been working but it is always quite a thin situation some drivers might not finish the season like it has happened in the past already.

“We always need to be careful and I’m always aware of the situation of the teams and drivers to try and anticipate things if possible.”

The F2 championship heads to Monaco this weekend for round two while F3 will be back in action at Paul Ricard on 18-20 June.

shares
comments

Related video

Monaco F2: Pourchaire takes dominant pole ahead of Shwartzman
Previous article

Monaco F2: Pourchaire takes dominant pole ahead of Shwartzman

Next article

Pourchaire “disconnected brain” in Monaco F2 qualifying

Pourchaire “disconnected brain” in Monaco F2 qualifying
The next steps for Pourchaire after an F2 title miss Prime

The next steps for Pourchaire after an F2 title miss

Theo Pourchaire entered the 2022 Formula 2 season a firm favourite for the title after remaining with ART Grand Prix for a second season. But an unexpected charge from Felipe Drugovich and MP Motorsport meant the Frenchman was forced to settle for second. What went wrong for the Sauber protege, and where does he go from here?

FIA F2
Nov 17, 2022
The remarkable career turnaround of Enzo Fittipaldi Prime

The remarkable career turnaround of Enzo Fittipaldi

Sixth in the F2 standings heading into this month's final round, but within touching distance of third, Enzo Fittipaldi has quietly put together a strong first full season in the Formula 1 support series, recovering well from the scary Jeddah start crash that cut his 2021 campaign short. It marks a turn in fortunes for the Brazilian who thought he'd bid hopes of a career in Europe goodbye two years ago.

FIA F2
Nov 5, 2022
What the future holds for two Red Bull juniors fighting in the F2 battleground Prime

What the future holds for two Red Bull juniors fighting in the F2 battleground

Despite having two talented drivers, albeit at very different stages of their careers, Prema Racing has had mixed fortunes in FIA Formula 2 this year. Both drivers told Motorsport.com how they rate their seasons so far – and their next steps beyond 2022

FIA F2
Aug 24, 2022
Logan Sargeant: Carrying America's F1 hopes on his shoulders Prime

Logan Sargeant: Carrying America's F1 hopes on his shoulders

Two feature race wins in as many rounds have helped Logan Sargeant to emerge as the closest challenger to runaway Formula 2 points leader Felipe Drugovich. The Williams F1 junior couldn't have timed his rise better, with interest in grand prix racing on the rise in his US homeland, and he could be his country's best shot at getting a driver on the grid for the first time since 2015.

FIA F2
Jul 16, 2022
What racing in Australiar the future of F1's junior series Prime

What racing in Australiar the future of F1's junior series

The announcement that FIA Formula 2 and 3 would race alongside the Australian Grand Prix from 2023 came as a surprise, not only to fans but to the series’ teams too. But with Formula 1’s boom in popularity bringing more fans to the championships, team principals are relishing the opportunity

FIA F2
Jun 28, 2022
The other Doohan charting his way to motorsport success Prime

The other Doohan charting his way to motorsport success

Heading into FIA Formula 2 this season, there was a lot of pressure on Jack Doohan. The 2021 F3 runner-up joined a new team for his next challenge, as well as signing up to the Alpine Academy. He told Motorsport.com how he’s tackling the step up - with some help from his motorcycle legend father

FIA F2
Jun 16, 2022
How Drugovich plans on becoming Brazil's first F1 driver since 2017 Prime

How Drugovich plans on becoming Brazil's first F1 driver since 2017

With a chaotic but “pretty much perfect” FIA Formula 2 weekend in Saudi Arabia behind him, Felipe Drugovich now leads the drivers’ standings in his third crack at the series. The Brazilian driver reveals how he ended up back on the grid after what he thought would be his last year in the series, and shares his F1 aspirations.

FIA F2
Apr 1, 2022
Dennis Hauger: The Red Bull junior aiming to emulate Piastri in F2 Prime

Dennis Hauger: The Red Bull junior aiming to emulate Piastri in F2

Norwegian talent Dennis Hauger has a tough act to follow in Oscar Piastri’s footsteps on his graduation to F2 as the reigning F3 champion with Prema. Here’s what he makes of the task ahead of him.

FIA F2
Mar 16, 2022