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Fernandes warns of bleak future

F1 risks being reduced to just "five teams" unless something is done to cut costs, that is the stark warning from Caterham team owner Tony Fernandes. Should the costs of competing in the sport continue to rise, Fernandes fears Formula One is facing a bleak future. While it is well known that teams at the back of the grid are struggling financially, this year even fourth-placed Lotus had much publicised cash flow woes. And with costs expected to rise again next season, Fernandes believes F1 is facing a crisis. "I don't think there is one. There is one," he told Reuters when asked there is a 'cost crisis.' "You hear about people not having been paid, suppliers taking...
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