Motorsport

The FIA, motorsport’s global governing body, has waded into the crisis surrounding Formula One teams Caterham and Marussia by stating their slide into administration reinforces the need for cost-cutting measures in the sport.

The future of another Formula One motor-racing team has been placed in doubt after Marussia today (Monday) followed Caterham into administration.

Administrator Smith & Williamson has taken full management control of the beleaguered Caterham Formula One motor-racing team.

The future of Formula One strugglers Caterham remains unclear after a day of claims and counter claims between the motor-racing team’s current and former owners.

Embattled Formula One motor racing team Caterham has dismissed fresh concerns over its future after an administrator laid claim to its race cars and warned they could not leave the factory without his permission.

Madrid has emerged as the latest potential destination for a Formula One race with the motor-racing series’ chief executive Bernie Ecclestone said to be in advanced talks with a group of Spanish businessmen, according to El Confidencial.

Formula One chief executive Bernie Ecclestone has said the motor racing series is in talks to return a race to the streets of Las Vegas.

The World Endurance Championship (WEC) will take to Germany for the first time in 2015, with the Nürburgring added as a new event on the motor racing series’ calendar for next year.

Formula One has reported profit of $530.7m (€423m) for 2013, while the motor-racing world championship’s chief executive, Bernie Ecclestone, has played down speculation that CVC Capital Partners is actively seeking to sell the series in the coming months.

International Cycling Union (UCI) president Brian Cookson has confirmed the governing body has not received a WorldTour application from the proposed Fernando Alonso Cycling Team (FACT) for the 2015 season, but believes the outfit could still race at the second-tier ProContinental level.

Formula One’s main shareholder CVC Capital Partners has “revived talks” with advisers about an initial public offering (IPO) of the motor-racing series, while the position of chief executive Bernie Ecclestone has come under increased scrutiny amid reports he has been denied a place back on the board of the sport’s parent company Delta Topco.

The European Commission (EC) has today (Wednesday) ruled that state aid granted to developers at German motorsport venue the Nuerburgring breached European Union (EU) regulations and must be paid back.

Increased payments to Formula One teams led to a fall in operating profit for the motor-racing world championship in the year to December 31, 2013, according to Forbes.

Formula E chief executive Alejandro Agag has said he hopes to attract “three or four” manufacturers next season with the aim of the new motor racing series becoming a full world championship.

Historic British motorsport marque Brabham has announced its intention to return to the track in the World Endurance Championship (WEC) in 2015 through an innovative crowd-funding project which aims to revolutionise the team ownership model.

Formula One will welcome another new market to its calendar this month when Sochi hosts the inaugural Russian grand prix. Rob Ridley speaks to the organisers about how the race fits into the legacy of the 2014 winter Olympics.