Haas: 'We must not degenerate into socialism'

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Haas F1 Team founder Gene Haas urges F1 to be "very careful" in its drive to shake-up the sport's income distribution model.

F1 CEO Chase Carey's main focus as he steers the sport into the future is to cut costs and restructure income distribution to the teams in order to make Formula 1 a viable business for every team on the grid.

Haas praises Liberty Media's work to date and the new ideas it is bringing to the fore.

"As far as I can see, they're doing everything right," Haas told Speed Week.

"They seem to have a lot of ideas, and a lot of them are very positive -- like easing the rules for video clips on the web."

Carey keen to scrap Concorde Agreement for long-term 'partnership'

But the American businessman also wants F1 to exert caution when it comes to redefining the sport's economics in giving the smaller teams a larger slice of the pie.

"As the newcomers, every additional sum for us is very welcome," said Haas.

"But I do think we have to be very careful. There are some teams at the top who have been there for 50 years and therefore have a right to a larger share of the revenues.

"I'm not saying that the teams at the end of the field have not earned more money, but it's just like the top drivers who rightly earn more for winning.

"We must not degenerate into socialism," he insisted.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.