From GMM
Formula 1 supremo Bernie Ecclestone on Wednesday reacted with surprise to
Renault's threat to quit
formula one over the dispute about commercial revenue.
The French carmaker's chief operating officer Patrick Pelata had suggested that enough has not yet been done to convince Renault that formula one is sustainable in the current era.
"We're seeking to bring down contract costs and receive more of the revenues", he said at the Geneva Motor Show, according to the financial news service
Bloomberg.
"We want to remain part of the emotion and the spectacle of formula one, but there are really no taboos", Pelata added.
Ecclestone reacted: "I'm surprised he would come out and say something like that. We've got an agreement with the teams until 2013 and we'll stick with that."
Simone Perillo, a spokesman for the Formula One Teams Association (FOTA), confirmed that additional commercial revenue will be among the vision to be outlined at a press conference in Geneva on Thursday.
Photo Credit : Renault
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