Manufacturer team 'could quit F1'

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One of the Formula One teams run by a major road-car manufacturer may be at risk of quitting the sport because of the current economic climate.

That is the view of Williams chief executive Adam Parr, who told BBC Oxford it may not be just small teams who will face financial problems.

Motorsport boss Max Mosley has said F1 must slash spending or face problems.

"There is a serious possibility that one or two teams may pull out and they could be manufacturer teams," he said.

Williams are based in the UK's F1 heartland in Oxfordshire, and the industry has already been hit after Leafield-based Super Aguri withdrew from the grid in May due to funding problems.

But Parr said it is not just the teams with the smallest budgets that are likely to close in future.

"The assumption is that it would be an independent team but I don't think this is necessarily the case."

Mosley is due to meet with F1 teams later this month to discuss new cost-cutting measures for the sport and Parr agreed something must be done.

"What is broken in Formula One is, in broad terms, the revenue available to the teams is less than the costs of participating in the sport."