F1: FIA Considers Toyota Penalty

[Teutone]

FORMULA-ONE - F1: FIA Considers Toyota Penalty - SPEEDtv.com


F1: FIA Considers Toyota Penalty
Written by: SPEED Staff / GMM
11/20/2009
GMM Newswire

The FIA may penalize Toyota after the team made the shocking announcement shortly after the season to leave. (Photo: LAT Photographic) » More Photos

The FIA is contemplating a penalty in the wake of Toyota's decision to withdraw immediately from Formula One.

The Cologne based team had only recently signed the 2010-2012 Concorde Agreement, a tripartite contract binding F1's competitors with its commercial and regulatory bodies.

Toyota's exit means theoretically that Sauber/Qadbak can take its official spot on the 2010 grid, but this is yet to be confirmed officially by the Paris based FIA.

Specialist publications Auto Motor und Sport (Germany) and Blick (Switzerland) believe the confirmation is pending a decision about a penalty for Toyota's contract breach.

Blick mentioned a figure of 20 million Swiss francs for each of the contracted 2010, 2011 and 2012 seasons not contested by Toyota, amounting to nearly $60m.

Auto Motor und Sport said a resolution will take at
least another week, during which time Sauber cannot contract drivers or sign sponsors.

The money of the Qadbak consortium, meanwhile, will reportedly not flow until Sauber is officially granted a 2010 entry.

[calgary]

I am certain that Toyota did consider the fine, when making the decision to get out of F1. 300 Million, less 60 Million = 240 Million saving...Makes good business sense.

[Teutone]

Originally Posted by calgary

I am certain that Toyota did consider the fine, when making the decision to get out of F1. 300 Million, less 60 Million = 240 Million saving...Makes good business sense.

Settling compensation to the teams work force, as regulated by law in Europe, will be another chunk of cash.
Honda managed a far classier closure, at about the same cost, i.e. the $120 mio paid to the ongoing Brawn concern.