Aston Martin boss Andy Palmer has lent his backing to the proposals to change Formula One from 2021, as put forward by new F1 owners Liberty Media.
The new regulations were presented to teams at the Bahrain Grand Prix but have notably upset Ferrari, which has threatened to end its long association with the sport.
But Aston Martin, a title sponsor of the Red Bull team, is behind the suggested changes, which could potentially pave the way for Aston Martin engines to be supplied to F1 teams.
In a statement on Twitter, Palmer said: “We are extremely pleased to hear the news regarding the future of F1. These prospective changes support many of the requirements needed for Aston Martin to enter the sport as an engine supplier.”
We are extremely pleased to hear today’s news regarding the future of Formula One. These prospective changes support many of the requirements needed for Aston Martin to enter the sport as an engine supplier. This is a very positive step in the right direction.
— Andy Palmer (@AndyatAston) April 6, 2018
Aston Martin is part-owned by a consortium of investment houses including Kuwait’s Investment Dar and Adeem Investment.
A Formula One grid without Ferrari may seem unthinkable but CEO Sergio Marchionne says that may well happen.
“If there are any proposals that distort F1, I think Ferrari will pull out,” he said. “We are working with Liberty Media to find acceptable solutions.
“We had a proposal from Liberty 10 days ago; we expect to know the details and then we will make choices in the interest of Ferrari. We could look for alternative solutions, it’s not a threat, but it does not mean we stop shopping.”
Liberty Media bought Formula One from Bernie Ecclestone for a reported $4.4 billion last January. The company is attempting to usher in a budget cap and a revised revenue distribution system.
Mercedes team chief Toto Wolff said that a potential budget cap of 150 million dollars was “not achievable”, while team chairman Niki Lauda said: “It would mean cutting many jobs, which is something we cannot do in such a short time.”