Jun.17 (GMM) Bernie Ecclestone has hit back at claims costs are too high in formula one, insisting the teams waste too much money.
It has been reported that with the exception of 'big four' Ferrari, Red Bull, McLaren and Mercedes, every team in pitlane is groaning under financial strain.And costs are only set to rise, with the return of in-season testing next year and the vastly more expensive turbo V6 'power units'."They will have to find a way to be competitive with less money," an unsympathetic F1 chief executive Ecclestone told Germany's Auto Bild."They need to refocus on the essentials, and that is the racing and the racing cars, not huge and meaningless motor homes," he added.
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