Share this article on LinkedIn Email

Formula V8 3.5 boss Jaime Alguersuari Sr has called on the FIA to instigate a meeting with major single-seater promoters to help reduce the burden of cost on aspiring drivers.

Alguersuari believes FV8 3.5's tie-up with the World Endurance Championship in 2017 will provide a greatly enhanced platform for his series' racers, but wants expense across the Formula 1-feeder category landscape to be confronted.

"The big problem today is not a problem [exclusive to] World Series [FV8 3.5], it is a total problem for all single-seater activity relating to big single-seaters," said Alguersuari, who remains ​the ​head of the RPM promotional company that he sold to media group Dentsu Aegis Network earlier this year.

"European F3, GP3, GP2 and World Series, all of these categories have one unique problem: the parents.

"That is the headline. The problem is the parents and money.

"The average budget parents are investing across those categories for a driver to compete in a season is around €700,000.

"In the past two to six years, it was easy to find drivers spending €1.3million or €2million.

"Now, it's impossible. The economy of the world means that people are very, very cautious.

"The situation is very grave, very serious.

"But in my opinion, the FIA should organise, with the promoters of GP2, F3, GP3 and World Series, a meeting so that we can reach and search for new solutions regarding cost.

"The breaking point is the cost - that, and there are too many championships in single-seaters."

Alguersuari is targeting budgets of between €650,000-850,000, depending on team, for FV8 3.5 next season.

Sources at leading teams consider the first figure to be optimistic if operating competitively, but they are satisfied that Dentsu Aegis is covering freight costs for the three long haul WEC-supporting rounds.

"When you consider the relative costs, I am very proud of the capability of our single-seater," Alguersuari added.

"The technology in motor racing has to serve the drivers not the engineers and teams.

"If we want to consider this activity as a sport, we need to have some sensibility regarding costs so that more talented drivers can progress."