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Claire Williams excited by Liberty's revenue distribution plans

Dan Istitene/Getty Images

Williams boss Claire Williams thinks Formula One's smaller teams can have "an exciting future" if Liberty Media goes through with plans to revamp the sport's distribution of revenues.

F1's current revenue sharing is a controversial subject, with smaller teams struggling to compete against the big budgets of the front-runners. In recent years a budget cap has been put forward as a solution, though it was blocked by the Strategy Group ahead of the 2014 season.

Liberty's takeover was completed at the start of this year and coincided with the financial collapse of the Manor team, something largely caused by it finishing 11th and not 10th in last year's championship -- costing millions in valuable prize money. F1's new owners plan to look into how the sport shares its wealth among the existing teams, with new motorsport managing director Ross Brawn wanting to reopen the discussion about a budget cap.

Williams believes her team's habit of operating within its limited budget would put it in a good position to thrive with more financial equality between teams.

"Liberty have talked about trying to bring distribution of income to a much more equitable level in order to make sure we have a sport that thrives and is sustainable into the future," Williams said at a SPOBIS summit in Germany. "Williams is an independent team and our budget's around the mid-point among other teams in our sport. For us in the middle, it gives us quite an exciting future because if they do bring about a more equitable distribution of income, obviously we will benefit from that.

"We are a team that is able to thrive at that mid-range whereas bigger teams might have to compress what they do, maybe make people redundant if they put a cap on the number of employees or put a cap on spending through budget caps. So we're looking forward to getting round the table and having those competitions."

The new takeover also saw the end of Bernie Ecclestone's tenure as the boss of Formula One. The 88-year-old has been moved into an honorary job as chairman emeritus.

Speaking about Ecclestone's legacy in F1, Williams said: "We were waiting to see if Ecclestone would retain a place around that table with Liberty and it transpires he won't be involved on a day-to-day basis. He's been given the title chairman emeritus, so we'll have to see what that means.

"F1 is what it is today because of the work of Bernie. He has done some phenomenal things to transform this sport into what it is today. It has an audience that outstrips so many other sports around the world and generates hundreds of millions in sponsorship over the course of one season. No one should take that away from Bernie."