FIA president Jean Todt believes it is only fair to charge the richer teams and drivers more to compete in Formula One. His comments come as the FIA looks to increase its... read more »

Bernie Ecclestone is keen to push forward with his idea of a $250 million (£156m) annual budget cap in an effort to gradually bring down the cost of competing in... read more »

In a move that some might see as somewhat ironic, Bernie Ecclestone is offering a half million dollar reward to anyone who blows the whistle on F1 cheats. read more »

The teams have been hit with a massive increase in the cost of competing in Formula One from 2013 and beyond, with the governing body the FIA having confirmed a new entry fee... read more »

The Marussia F1 Team is seeking fresh investment after it made a £49 million loss during the 2011 season, the Guardian reports. The team, which is part owned by... read more »

The Marussia F1 team made a loss of 49 million last year and is now said to be looking for investors to stay afloat, it is being reported. read more »

Bernie Ecclestone has said he is not overly concerned by a demand from German bank BayernLB that he pay $400 million in damages read more »

Bernie Ecclestone says he is prepared to fight German bank BayernLB in court following the company's claim it is owed £320 million in lost earnings from the sale... read more »

The German bank BayernLB wants Bernie Ecclestone to repay US $400 million, the Suddeutsche Zeitung newspaper reports on Thursday. The bank claims that is the amount it lost due... read more »

Red Bull has the standout budget among F1′s UK-based teams, according to Germany’s Auto Motor und Sport. Citing British companies data, the magazine said... read more »

Force India co-owner and team principal Vijay Mallya has had the arrest warrant against him dropped, following the settlement of fees owed to the Hyperbad Airport. The warrant,... read more »

A non-bailable arrest warrant has been issued against Force India team owner Vijay Mallya following unpaid debts on his airline Kingfisher. The warrant has been issued by... read more »

The Indian city of Hyderabad has issued an arrest warrant for Force India team boss Vijay Mallya, with his Kingfisher Airlines company allegedly owing the area's main... read more »

McLaren has successfully argued it's case as to why it should be allowed to claim corporation tax back on its £32 million fine, imposed upon the team in 2007 for... read more »

McLaren has won the right to claim a corporation tax deduction on the UKP32 million fine that it was handed for its involvement in the 2007 spying controversy with Ferrari read more »

Pastor Maldonado has declined to commit to Williams for next season, knowing that a loss of his substantial backing from Venezuela could compromise the drive. State-owned... read more »

Greece has set aside almost EUR 30 million to subsidise the construction of a formula one circuit, the country's development ministry said. Bloomberg reports that, despite... read more »

Greece has shown its intent to launch an F1 bid after Ministry of Development said it has unblocked a subsidy worth €28.9 million to build an international-standard race track read more »

Greece has elected to unblock a subsidy of 28.9 million euros (£23m) for the construction of an international standard racing circuit, the Ministry of Development has... read more »

Multiple authoritative media sources in Britain and Germany are reporting that the respective futures of Lewis Hamilton and Michael Schumacher will finally be announced on... read more »

Formula One teams will have to dig deep if they're to compete next season, under a new proposal put forward by the FIA. The governing body has proposed an increase in the... read more »

The Melbourne government hopes to renew its contract to host the Australian Grand Prix, which is set to expire in 2015, but only under more favourable terms. The event,... read more »

Melbourne keen to keep the Australian GP beyond current deal but only on reduced terms after figures reveals $56 million of subsidies for the 2012 race read more »

The Circuit of Wales will be applying for planning permission next month, a venue spokesperson has confirmed to GPUpdate.net. The proposed track, based in the Rassau Industrial... read more »

McLaren has upped its offer to Lewis Hamilton in a bid to retain the 2008-champion for 2013 and beyond. Mercedes have reportedly offered Hamilton upwards of £12... read more »