Quitting F1 won't save Merc money - official

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GMM April 29th, 2009 GMM

By GMM Author April 29th, 2009

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December 31st, 1969 Apr.29 (GMM) Even if Mercedes was to pull out of formula one, it would not save its struggling parent Daimler money, an official said on Tuesday. "We look into our formula one commitment every year. But even if we dropped out now, we wouldn't be saving a cent because the contracts are long-term," Daimler chief financial officer Bodo Uebber is quoted as saying by German press. But he pointed out that Daimler has "no sacred cows", meaning that a future withdrawal from formula one cannot be ruled out. Daimler reported a net loss of US $1.7bn for the recent January-March quarter.

Apr.29 (GMM) Even if Mercedes was to pull out of formula one, it would not save its struggling parent Daimler money, an official said on Tuesday.

"We look into our formula one commitment every year. But even if we dropped out now, we wouldn't be saving a cent because the contracts are long-term," Daimler chief financial officer Bodo Uebber is quoted as saying by German press.

But he pointed out that Daimler has "no sacred cows", meaning that a future withdrawal from formula one cannot be ruled out.

Daimler reported a net loss of US $1.7bn for the recent January-March quarter.

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Posted in: Formula One