F1

Formula One boss Bernie Ecclestone has announced that a medal system is to be introduced as a preventative measure for drivers becoming world champions “by not winning races.”

F1 President Bernie Ecclestone has announced plans to abolish the sport’s current points systems and replace it with an Olympics-style medal scheme. The world champion would be decided on the basis of which driver amassed the most gold medals if the proposal is to go ahead.

Formula One teams have agreed to reduce the cost of customer engines by over £12 million from 2011, according to Ferrari Chairman, Luca di Montezemolo.

Car Manufacturers Ferrari and Toyota have warned that they may quit Formula One if the FIA continues in its plans to reduce costs.

Leading Motor Sports Group, Stephane Ratel Organisation (SRO), today announced that it had sealed a number of key sponsorship agreements on behalf of its two leading UK based domestic motor racing championships.

The worldwide credit crisis has intensified problems for F1 and a number of teams are now in danger of quitting, according to FIA president Max Mosely.

A line is to be drawn under the 'Spygate' scandal that rocked Formula 1 last year, following an agreement between McLaren and Ferrari.

The Victorian Government of Australia has announced that the Australian Grand Prix in Melbourne is to be a twilight race for t