Ex-FIA president believes F1 may lose more teams due to high costs of racing

Former FIA president Max Mosley believes that Marussia and Caterham may not be the last teams to suffer from the high costs of racing in Formula One.

Marussia were put into administration on Monday, just days after Caterham met the same fate. Both the teams would miss this weekend's US Grand Prix in Austin.

Mosley said that it's not a fair competition any more, adding that the big problem is that the big teams have so much more money than teams like Caterham and Marussia, The BBC reported.

The 74-year-old, who was head of the sport's governing body between 1993 and 2009, added that in the end, teams such as Caterham and Marussia were bound to drop off and they might not be the last.

The likes of Red Bull, Ferrari and Mercedes spend more than 200 million pounds a year on their Formula One programmes, whereas outfits such as Marussia and Caterham, who have been at the back of the grid since they entered the sport in 2010, exist on a third of that.

Mosley's plans for a cost cap in 2009 fell through and revived plans for one to be introduced next season collapsed earlier this year. He said that from a sporting point of view, the sport should split the money equally and then let the teams get as much sponsorship as they can.

He said that a team like Ferrari would always get more sponsorship than Marussia, but if they all get the same basic money, then they all start on a level-playing field, particularly if one has a cost cap where they limit the amount of money each team is allowed to spend.