Junior Formulae cost issues need addressing – Alguersuari Sr

Formula V8 3.5 is just one of a number of categories affected by high costs - Credit: Formula V8 3.5

Jaime Alguersuari Sr wants the FIA to step in to try and reduce the apparent cost issues that seem to be spiralling out of control in recent years, a problem that is not exclusive to his own Formula V8 3.5 championship.

Drivers have found it difficult to raise the funding required to continue their single seater careers, with many making early switches to sportscar racing, but Alguersuari, who is the head of the RPM promotional company that oversees Formula V8 3.5, believes that the issue with the excessive costs need to be address at the highest level.

“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 on Autosport. “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.”