JANUARY 16, 2003
Mercedes, Toyota and Renault agree to two engine supplies
We hear from yesterday's Formula 1 team meeting that Mercedes-Benz, Toyota and Renault have all agreed to supply two Formula 1 teams with engines if asked to do so. This will begin in 2004 and it appears that a maximum price of $10m has been agreed between the motor manufacturers. With Ford and Ferrari already supplying more than one team and Honda and BMW both having done so in the past it seems that the biggest problem for the small teams is going to be solved. This should also mean that it is easier for a new team to enter the sport although there are still hurdles to be overcome with the existing need for a $48m bond and the fact that no new team gets any TV money for at least three years. If these regulations are eventually waived the door will be open for new teams to try their hand at F1, a situation which has been virtually impossible in recent years.
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MERCEDES, TOYOTA AND RENAULT AGREE TO TWO ENGINE SUPPLIES
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