Sir Richard Branson's wants 17 million pounds prize money from Virgin Formula One Team
The sport of formula one is one of the most popular and most expensive sports in the world. Last couple of seasons, a number of teams have withdrawn from the formula one circuit, citing financial reasons, as the sport requires a lot of green to stay in the game. Due to the global recession many had to pull out, which in result opened the door for some new names on the grid, one of them is Virgin Racing, who made their debut this season.
Sir Richard Branson is a British industrialist, best known for his Virgin brand of over 360 companies. He has splashed huge amount of cash in setting up his team, Virgin Racing for formula one and plans to make some good profits come the end of the season. Being a clever and shrewd businessman, he is clear about his plans, and intends to make no less than 17 million pounds, which can be achieved if his team can finish in the top ten in the constructors championship.
Virgin are currently in battle with 2 other teams for the 10th place finish, the other 2 teams are Lotus and Hispania Racing, who are also new comers to the Formula one circuit.
Branson said that their aim is quite realistic and it will be foolish to imagine they can be title contenders in the very first season. There is a lot to learn as far as his team’s experience in the game is concerned, but as long as both drivers from Virgin can finish the races for the rest of the season, the chances of them getting to their target are quite good. And if somehow one or better yet both of the drivers manage to get into the top ten at the finish line in some races, which will earn them some championship points, it would be a big bonus for the team.
At the end of the season, Teams that finish in the final 2 places will not get the windfall. So far, in the 2010 season, 8 races have been completed and the Virgin team holds the wooden spoon, with 12th position on the points table.
The new teams, Virgin, and their 2 toughest competitors Lotus and Hispania, have not managed to win any points so far this season, as points are awarded to drivers who finish in the top 10, and neither of the 6 men driving for these teams have managed to do that so far this season.
If by any chance at the end of the season in November, there is a tie between 2 or more teams on the constructors table, team's best result, and the frequency of that result will act as the tie breaker.
Lotus currently holds the all important 10th place on the table, courtesy Heikki Kovalainen who got 13th position in Melbourne GP. Qhile Hispania Racing are holding on to the 11th position, as their driver Karun Chandhok twice finished in 14th place (in Australia and Monaco), and Virgin are next in line on the 12th spot, with Lucas Di Grassi's only 14th place finish back in Malaysia.
Hence the competition between the 3 teams is immensely close, and in the upcoming race at Valencia, if Di Grassi or Timo Glock manage to finish 12th they will certainly make their way in the top 10 teams.
For the new teams, the opportunity mainly lies in the races, where there are number of retirements, and the unlikely teams end up taking higher places on the final standing. Branson when informed about the prize money for the 10th place, by team Chief Executive officer Graeme Lowdon, said that he never knew there was so much money to be made, and 17 million pounds is a huge sum and will make world of difference to the team. As it would help the team prepare better for the next season, and that is precisely when he realized that finishing a race is as important for small teams, as winning the race is for the big ones.
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