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BREAKING NEWS: BMW Said To Be Next Manufacturer Out Of Formula One, Will More Follow ?
Mike Sulka
The 'big' news this week was supposed to be the signing of the Concorde Agreement that will secure the future of Formula One and its 13 teams through 2012 - and some say 2016. Instead, BMW may be preparing to surprise by calling it quits from Formula One. And it may be a sign of things to come.
The European websites are shaking the foundation of the sport suggesting that an emergency press conference in Munich tomorrow morning will end the participation of BMW in F1.
Last winter, Honda surprised the F1 community with their withdrawal after nearly 10 years of unsuccessful runs. The decision seems somewhat star-crossed as the remnants reformed as Brawn GP are leading the F1 drivers and constructors titles.
However, BMW is a recent F1 team owner after buying the former Sauber F1 team in 2006. Previously, they had participated in the sport as an engine manufacturer - for Williams. Though the BMW team hasn't had the pace this season, it would seem a bit early to pull the plug. But, maybe the leaked new regulations may not be encouraging BMW - an engineering oriented firm - to stay, especially when the company considers the great expense of creating what some fans have begun referring to as 'spec' cars. Ultimately, everyone will point to the costs, but as always...
It costs vs. rewards and other intangibles that determine a manufacturers participation.
BMW apparently is referring to the press conference as 'significant' and Autosport reports key figures - BMW Chairman Dr. Norbert Reithofer, and F1 Boss Mario Theissen - will participate which gives further credence to the rumors of their departure.
If BMW leave, it could be a significant sign of more news to come. Renault has been rumored for years that they would be leaving - even this week rumors have the team sold - and Toyota has been rumored to be leaving the sport since Honda left the sport. Added, have been comments published in pre-season press material which led to speculation the team was under immense pressure to gain their first win this year.
The strangeness in all of these machinations may to some extent prove that the FIA was correct in pushing harshly to minimize costs to save the sport from itself. Yet the eight FOTA teams at one point issued a press release indicating that they would be launching a new series. In doing so, leaving no doubt that the group was prepared to spend massive sums of money to direct the sport from the front.
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