F2, F3 to focus on cost saving instead of driver scholarships

Formula 2 and Formula 3 organisers will continue its drive to reduce costs instead of creating a driver scholarship initiative helping competitors raise funds during a covid-impacted economic climate.

F2, F3 to focus on cost saving instead of driver scholarships

Uncertainty caused by the coronavirus pandemic has created a much more difficult environment for drivers to secure budgets to compete in the F1 feeder series this year.

It is anticipated that not all drivers on the F2 and F3 grids will see out the year due to the tough economic conditions. It is thought a figure in the region of €2 million is the price tag to contest a season in F2.

F2 front runner Richard Verschoor has already revealed that he is yet to secure the funding to contest a full season and could only confirm his attendance at Monaco this weekend just days before the event. Meanwhile, Matteo Nannini has switched his focus from dual campaigns to F3 only due to financial concerns.

While the championship organisers are fully aware of the challenges drivers face to raise funds in these unusual times, boss Bruno Michel says his team will continue working to reduce costs to compete.

Cost cutting measures have been introduced this season with F2 and F3 will conducting fewer rounds, but the same amount of races compared to previous years through a new three race weekend format.

The two championships have also been split and held on alternate Formula 1 weekends to help reduce staffing and travel costs to teams competing.

Michel believes a cost saving drive would be more beneficial than creating a driver scholarship system, similar to the ‘Road to Indy’ programme in the US, to help talented drivers progress or those in need of support.

“We are not working on that [a driver scholarship system],” said Michel when asked by Motorsport.com about the possibility of an initiative being set up to help drivers struggling for budget.

“The problem is always the same if you are helping some drivers why this one and not another one and it is quite difficult to say that we will help the fastest drivers or the ones with the best results. The situation is very different from one driver to another.

"Now we have a lot of drivers part of Formula 1 driver academies whether it is in F3 or F2 and it is very important. Some of the drivers have sponsors or a personal situation that allows them to do well and some others it is more difficult but that has always been the case.

“At the moment finding 30 drivers in F3 has been easier than finding 22 drivers in F2 but that depends on the season.

Read Also:

“Whether we should put a scholarship together, I don’t think so.

“I think the way to try to help the drivers is what we have been doing and what we have tried to do all the time is to decrease the costs and try to increase the revenue to the teams, so that that they hand a decreased cost to the drivers.

“That is what we are trying to achieve and so far let’s say it has been working but it is always quite a thin situation some drivers might not finish the season like it has happened in the past already.

“We always need to be careful and I’m always aware of the situation of the teams and drivers to try and anticipate things if possible.”

The F2 championship heads to Monaco this weekend for round two while F3 will be back in action at Paul Ricard on 18-20 June.

shares
comments

Related video

Monaco F2: Pourchaire takes dominant pole ahead of Shwartzman
Previous article

Monaco F2: Pourchaire takes dominant pole ahead of Shwartzman

Next article

Pourchaire “disconnected brain” in Monaco F2 qualifying

Pourchaire “disconnected brain” in Monaco F2 qualifying
Load comments
What next for "too politically incorrect" for F1 Ticktum? Prime

What next for "too politically incorrect" for F1 Ticktum?

Having by his own admission "blown my chances" of reaching Formula 1, Dan Ticktum is facing an uncertain future. A driver of unquestioned ability who has at times been his own worst enemy, can he apply his lessons and rebuild his career hopes?

FIA F2
Sep 30, 2021
How Piastri could be forced to spend 2022 on the bench Prime

How Piastri could be forced to spend 2022 on the bench

Tipped as the next big thing after winning the FIA Formula 3 championship in his rookie season, Oscar Piastri has taken Formula 2 by storm and looks set to clinch that title too. But with no Formula 1 seat available to him for next year, the Alpine junior may have to wait for his time in the spotlight…

FIA F2
Sep 24, 2021
How Campos Racing has bounced back from its devastating loss Prime

How Campos Racing has bounced back from its devastating loss

After the sudden death of its founder in January, Formula 2 stalwart Campos Racing was left facing its hardest season to date. But new team boss Adrian Jr is determined to honour his father’s legacy and has returned the team to its winning ways

FIA F2
Sep 20, 2021
How F2 and F3's flawed format changes could prove shortlived Prime

How F2 and F3's flawed format changes could prove shortlived

After a chaotic 2020, marred by the coronavirus pandemic, the FIA brought in radical changes to Formula 2 and 3. But less than 12 months later, there are talks of them being reversed after all did not go to plan…

FIA F2
Sep 9, 2021
The Red Bull F1 junior aiming to defy geographical odds Prime

The Red Bull F1 junior aiming to defy geographical odds

It's a long way from Pukekohe New Zealand to Milton Keynes, but Red Bull's Kiwi protege Liam Lawson has defied plenty of odds to reach the rung below F1. He's endured disappointment since winning on his F2 debut in Bahrain, but is determined to turn his season around and prove himself worthy of a place on the F1 grid

FIA F2
Jul 27, 2021
How Red Bull's next F1 hopeful turned around his season Prime

How Red Bull's next F1 hopeful turned around his season

Having impressed in Formula 3, Juri Vips looked to be next cab off the rank in Red Bull's prestigious Junior Team before his 2020 schedule was dealt a heavy blow by the COVID-19 pandemic. After a tough start to life in Formula 2, Vips is showing signs of a recovery - could he be the first Estonian to reach Formula 1?

FIA F2
Jun 14, 2021
How F1 hopeful Pourchaire is re-writing the F2 record books Prime

How F1 hopeful Pourchaire is re-writing the F2 record books

He'd marked himself out as a star of the future in last year's FIA Formula 3 championship, but 17-year-old Theo Pourchaire underlined his credentials by winning his first Formula 2 race in the Monaco feature. Sauber junior status gives him a clear route to the top, but with wisdom beyond his years, he's not getting caught up in his own hype.

FIA F2
Jun 3, 2021
The F1 hopeful living two lives to keep his dream alive Prime

The F1 hopeful living two lives to keep his dream alive

Having lost his backing from Red Bull, Richard Verschoor has had to graft to continue his ascent up the single-seater ladder. An impressive Formula 2 debut in Bahrain, despite the lateness of his deal, shows his unorthodox approach is paying dividends.

FIA F2
Apr 22, 2021