Kate Walker explains why Formula One must get serious about cost control, and quickly. When it comes to fixing problems, there are two approaches that can be taken: one can identify the root causes and work to ameliorate them, or one can simply stick on a Band-aid and hope for the best. Formula One is far better at the Band-aid option. While the global financial crisis that hit the bulk of the world in 2008 took a little longer to be felt inside the paddock, the sport's financial problems date back to the end of tobacco sponsorship, those fat times of plenty. The disappearance of the biggest source of sponsorship income did not happen overnight, of course. Those in charge of the sport...
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