Formula One’s head honcho, Bernie Ecclestone, has announced that only the top teams at the end of the season will receive prize money. This is a departure from the practice of 2010, 2011, and 2012 during which the 11th and 12th placed teams also received prize moneys.
Talking about the change, Ecclestone said, “For three years we did something different because we had an agreement with (former FIA president) Max (Mosley) but from now on we will pay the top 10 and that’s it.”
The reducing of the number of prize money recipients will not impact many teams since there are only 11 teams in total. Last year, Spanish-based HRT folded.
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