Honda F1 website

MAY 12, 2004

Accountants warn of impact of F1 changes

The accountancy firm PKF, which has in the past acted as the administrative receivers for the Arrows F1 team, is warning that the proposed changes to the Formula 1 regulations could have a serious impact in the motorsport infrastructure, particularly specialist firms supplying high technology to the F1 teams. It is not clear why PKF feels the need to comment.

"Richer teams spend heavily on finding new technologies, lighter materials and electronic devices that give their cars an edge, if these new proposals come into effect, the specialist organisations supplying these, many of which are based in the UK, may find themselves facing financial difficulties," says Philip Long, head of corporate recovery at PKF.