Formula 1 teams are aspiring to come together and form their own union in order to defend their financial interests following the sport's takeover by Liberty Media.
According to Autosport.com, a prominent senior F1 team member is spearheading an effort to form an alliance protecting their assets, notably the 'Constructors' Championship Bonus' enjoyed by Mercedes, red Bull, Ferrari and McLaren.
While Liberty is still in the dawn of its takeover of F1, CEO Chase Carey and commercial director Sean Bratches have both touched on the subject of financial reform, targeting a more equitable distribution of income which could entail a revision of the current CCB.
Needless to say, changes to the current Concorde Agreement which runs until the end of 2019 as well as potential revisions to the CCB would be met with cheers by the smaller second-tier teams while it would be frowned upon by the sport's leading quartet.
It remains to be seen however how a union would not lead to division among the ranks or how the smaller teams would be enticed to join an alliance without any financial incentive to do so.
"We are prepared to engage in team meetings and discussions, but the progress of those talks may necessarily be somewhat fraught, and [certain CCB teams] may attempt to protect privileged positions," a team who wished to remain anonymous told Autosport.
"We must all work together for the good of F1 by helping Formula One Group."
The last time the teams attempted to speak under the same umbrella was back in 2008, following the formation of FOTA (Formula One Teams Association). But the union's clout against FOM and the FIA eventually subsided and the group was disbanded in 2014.
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