sport

Gascoyne sounds financial warning

Caterham's Mike Gascoyne has warned that simply surviving in Formula 1 will be a challenge for other new teams on the grid.

The Englishman has currently moved away from the pit-wall and taken up the role of Group Technical Officer at the expanding Leafield outfit, overseeing a number of the company's other business ventures.

And it is those additional revenue streams that the 49-year-old feels will ensure Caterham are able to continue in Formula 1 in the long term.

"One thing about the Caterham Group is that when we set up the Caterham F1 team, it was all about a sustainable automotive group - so cars, consultancy and the rest of the business earn money to be able to fund a Formula 1 team and that was always part of the idea," Gascoyne exclusively told Sky Sports F1 Online.

"That's what I am now running and it is the most important part of the group, as without it we won't have a Formula 1 team."

Caterham set themselves the target of moving into the midfield in 2012, but failed to score a point all season, and Gascoyne says it will take time to catch up with the other teams who have spent decades investing in facilities.

"I think you have got to understand that if you look at the nine teams that are in Formula 1 that have survived - so many teams have gone by the wayside - if you look at the investment that they have made over the years, because they have all been there for twenty or thirty years plus, spending 10-, 20-, 30million-a-year on facilities, you can't come in, even if you have got a decent budget, and match all those facilities overnight," he added.

"You can't suddenly spent 100million on all those facilities, seven-post rigs, wind tunnels etc, that these teams have. So it is a huge step up to move into Formula 1 and the most important thing for Caterham is to make sure it is sustainable and it survives, which I don't think any of the other new teams will do.

"It is a tremendous achievement just to survive and then once you get your first point and move into the midfield, that is going to take time, but the important thing is to make sure you have that survivability."