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Formula 1 is facing a crisis warns Fernandes

Caterham team owner Tony Fernandes has warned that Formula 1 risks being plunged into a crisis in which just a small handful of teams might survive. The Malaysian businessman believes the financial woes which plague over half the grid could finally bite and see just five or so teams left on the grid if something isn't done about rising costs. Red Bull reportedly spends around £180 million ($295m, €215m) per season whilst the smaller teams such as Caterham and Marussia work off budgets less half the size, around £65 million ($110m, €80m). Costs are again expected to rise in 2014 with the new power units, but a cost cap will be introduced in 2015 - though the details...
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