Formula One motor racing teams have been warned that they face receiving a reduced share of revenue from the sport in light of the current financial climate.

President of Formula One Management, Bernie Ecclestone, told the Financial Times that a cap on team spending is also being considered, despite car companies pumping a reported $1.3bn (£932m) into the sport each year. Following the withdrawal of the Honda team last month, the nine remaining teams have agreed to introduce a standardised engine and a ban on track testing in a bid to save money, which the teams say isn't enough.

However, Ecclestone told the newspaper that rather than paying more, teams are set to receive less, accusing teams of delaying negotiations over long-term commercial contracts. Ecclestone has also warned that teams would lose a share of an estimated $50m (£35.8m) in prize money which would have gone to Honda during the 2009 season.