Verstappen F3 team in financial trouble

MARCH 30, 2020

Verstappen F3 team in financial trouble

The F3 team that gave Max Verstappen his springboard into Formula 1 is in financial trouble.

While many are worrying about the fate of Formula 1 teams, Fritz van Amersfoort is warning that junior racing teams like his are even more endangered.

"In the junior classes, teams rely mainly on the money that drivers bring," he told RTL.

"And I can obviously not demand that they fulfil the terms of their contracts if we are not racing.

"We received some advance payments and we are now counting on this money. We have 35 full-time employees and they all need a salary.

"The question is how long we can hold out, but all this cannot go on for six months," van Amersfoort added.

"I am not familiar with the finances in Formula 1, but the problem with a team of our level is that we are completely dependent on cash. We have no savings.

"Yes, at the moment we save on not going to the races or paying for hotel rooms, but the point is that we can only pay when the drivers pay us."

(GMM)

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