F1 boss Ecclestone recommends budget cap ahead of season opener

London: Formula One chief Bernie Ecclestone has renewed calls for a budget cap in the sport, and believes there are many who still see the sport through rose-tinted glasses.

A budget cap is not a new idea, as former Formula One Association president Max Mosley planned it a few years ago in the wake of an ominous period for the sport when big-name manufacturers pulled out.

Ecclestone has said he would love to see changes made whereby teams are forced to tighten their belts even further.

“There are still too many people in Formula One running around with rose-tinted glasses,” The Telegraph quoted Ecclestone, as saying.

“They obviously like to see the world, as they want it to be – wonderful, the sun is shining, isn`t life delightful – and not how it is. The downside of these glasses is that they blind you to reality,” the FI boss said.

“So, my advice to them is to change the color of your glasses and tighten your belts. Stop spending more than you need to,” he added.

Ecclestone believes the championship teams need to be ready for action without spending bucket loads of money.

“The teams have to learn to be competitive without tonnes of money. They have to refocus again on the basics – on racing, spending on the sport – and not on baronial motor homes and all kinds of entertainment,” he said.

Ecclestone also feels the need of a mandatory budget for the club, which would ensure fair play for all the other not so rich clubs.

“We have had this kind of problem for quite a while now as of course they (the teams) spend what they have. You could install a mandatory budget for all teams – on the basis of the smaller teams, but they (the big teams) don`t like it and fiercely fight against it,” he added.