Ecclestone shows signs of cracking in budget cap row

F1 CHIEF Bernie Ecclestone has admitted to serious concerns for the future of the sport ahead of today’s showdown with rebel teams over the controversial budget cap plans.

Governing body the FIA and teams’ association FOTA will meet in Monaco, ahead of Sunday’s Grand Prix, for last-ditch talks aimed at resolving the row that threatens to tear F1 apart.

Just seven days before the deadline for teams to commit to next season neither side is showing signs of relenting, with the FIA intent on introducing a voluntary £40m cap and a swathe of teams, led by Ferrari, firmly opposed.

Ecclestone, the sport’s commercial rights holder, has been consistently bullish that a compromise will be reached, but yesterday conceded to fears that heavyweights such as Ferrari would see through their threats to withdraw.

“Well, I am concerned – I don’t want them leaving. I don’t think anybody does,” he said.

“We’ve had more than 70 teams in and out since F1 started. The only people who have been consistent are Ferrari, because they have been there from day one. So we don’t want to lose Ferrari.”

Seven teams have threatened to quit, and of next week’s deadline Ecclestone added: “We will have to wait and see. Probably, the majority won’t put an entry in.”