Former CEO of Manor Racing Graeme Lowdon claims his former team had every opportunity to stay on the Formula 1 grid for the 2017 season.
After months of searching for a buyer with no success, the team folded, but Lowdon believes there was a structure in place that should have kept the team afloat.
“My own view was that Manor had every chance of surviving in any case,” Lowdon told Crash.net. “Nothing changed in their commercial model.
“A few years ago, we had to navigate some very difficult things because we’d signed up for one commercial landscape and then instantly it was changed. But it’s been quite stable the last couple of years. There has been no change in the prize structure, no change in everything.
“But it’s been quite stable the last couple of years. There has been no change in the prize structure, no change in everything.
“So I was extremely disappointed to see MRT go because I knew a lot of people who worked there and they are really good people. I think a real, real shame that that happened.
“I’m not really sure why because as I say, the structure was there. It was quite a clear one. I think it’s a shame. I think F1 is worse off without. I think it needs probably a dozen teams to give it the depth and colour and everything else like that.”
“I think it needs probably a dozen teams to give it the depth and colour and everything else like that.”
With new commercial owners in Liberty Media now in charge of F1, Lowdon believes a fresh vision and a clearer picture is necessary to ensure the attraction and ability to maintain potential new teams, giving them a platform to reach out to the wider fanbase which he believes is currently being missed out on.
F1’s new CEO Chase Carey has hinted at such an idea in the future with plans to effectively scrap the current Concorde Agreement, in place would be a new partnership with the teams and the commercial rights holder.
“F1 needs an absolute, clear commercial landscape with stability to allow people to plan,” added Lowdon. “Our job as managers are not to let things just happen of their own accord. It’s to manage a situation.
“We had some real extreme changes, whether it was new engines or removal of cost cap and RRA (Resource Restriction Agreement) that was never adhered to. All manner of changes that were incredibly difficult. Thankfully, that’s disappeared now.
“The last two years have been extremely stable. Everyone knew what the rules were, what the prize money is. It just needs to be the same as that.
“There’s an awful lot that can be done to promote the sport to a wider audience still and get fans more engaged. I’ve always said that Formula 1’s biggest asset is the fan base, bigger than any particular team even.
“All of that requires some attention.”
