Marussia Team Principal John Booth has hinted that the current economic climate played a role in Timo Glock's departure ahead of the 2013 Formula 1 campaign, with the German leaving the outfit on amicable terms after three seasons onboard.
Having missed out on tenth place in the 2012 Constructors' standings, Marussia is set to receive a lower share of television revenues this year, with the money split based on a team's overall position. In addition to the ongoing economic crisis, Booth says the squad was forced to take steps to secure its long-term future in the sport.
"Timo has made a very significant contribution to our team over the past three seasons, helping us to develop our package to the point where, for a large proportion of the 2012 season, we were holding 10th place in the Constructors’ championship," Booth said on Monday morning. "Timo is a fantastic driver and he has been a very popular member of the team.
"Our team was founded on the principle of benefiting from proven experience whilst also providing opportunities for young emerging talent to progress to the pinnacle of motorsport. Thus far, this philosophy has also been reflected in our commercial model. The ongoing challenges facing the industry mean that we have had to take steps to secure our long-term future. Tough economic conditions prevail and the commercial landscape is difficult for everyone, Formula 1 teams included."
Booth concluded by thanking Glock for his efforts during his three-year spell with the team, explaining that the 30-year-old's future employer, which has not yet been confirmed, will acquire 'a competitive, professional and experienced' racing driver.
"We would like to thank Timo for working with us to reach this decision, especially as he had a valid contract, and also for the contribution he has made to our team," Booth said of Glock, who has been linked with a move to the DTM series. "We wish him all the best for his future and I would like to congratulate the next team acquiring the services of such a competitive, professional and experienced racer."
Marussia is expected to announce Glock's replacement in the near future, with a wide range of drivers still chasing a seat in Formula 1. Max Chilton, who is graduating from the GP2 Series, has already claimed one of the team's seats for the 2013 season.
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