F1: Sauber and Manor seek early payments
Manor and Sauber have become the latest Formula 1 teams to approach F1 chief executive Bernie Ecclestone for an advance on their championship payments for next year. It follows an application from Force India last month, which is believed to have been accepted. The requests require unanimous consent from the other teams before Ecclestone can facilitate them.
Teams receive payouts from Formula One Management on a monthly basis based on their historic status and their position in the constructors' championship the previous season. These are paid February through to November, leaving a cash shortfall for December and January.
Key production on new cars takes place during those two months, making it challenging for some of the smaller independent teams to pay bills and suppliers.
Ahead of this season, Force India, Sauber and Lotus made requests for advance payments to aid cash flow, with some suppliers asking for money earlier than usual after Caterham and Marussia went into administration, and these requests were approved.
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