From GMM

Formula 1 teams are already enjoying higher commercial rights revenues, according to the sport's chief executive Bernie Ecclestone.

The sport's body of teams have recently been pushing hard for the 78-year-old billionaire to give to them more than the current 50 per cent of total commercial income.

Ecclestone, however, is resisting vehemently, and now argues that exchange rates between the US dollar and the euro are already greatly benefiting the teams.

"I pay the teams in dollars," the Briton said during an interview with the periodical Auto Bild, "and because of the comparison with the euro they are getting maybe 25 per cent more than was agreed."

Moreover, McLaren chairman Ron Dennis this week confirmed that changes of rules for 2009 have succeeded in cutting costs both for the big manufacturer-backed teams as well as the privateers.

"I think the top teams will manage to reduce their costs from between 10 and 50 per cent," he said at the International Automobile Festival in Paris.

"For the smaller teams it will be more dramatic, to the order of 30 to 50 per cent. That is the aim we have this year."


Photo Credit : WRI2