FIA President Max Mosley has written to all the Formula One teams asking them to advise him by the end of today, whether the £30million optional cap should be revised. He has also suggested that the cap would not include drivers salaries and team marketing costs.
Mosley has also reiterated that the sport is likely to lose at least two further teams from this seasons contestants if the optional cost cap is not agreed. Teams accepting to operate within the budget cap will enjoy greater technical freedom than those teams preferring to continue with unlimited budgets, in theory making them as competitive, for less money.
Should the low budget cap be agreed, Mosley expects all of the current F1 teams will be on the grid for the 2010 season, but moreover the lower costs will also attract new teams to Formula One of which the FIA will select three. Among the already interested parties are Lola and David Richards the former Benetton and BAR boss.
“This will demonstrate that with less than 30 million pounds, it is possible to run a Formula One team which is virtually indistinguishable from an unlimited-expenditure team” said Mosley.
“It is likely that without the opportunity to participate under a cost cap, we will lose at least two further teams for the 2010 season, notwithstanding the cost-saving measures which FOTA has already agreed. This would leave us with just 16 cars. However, the FOTA cost savings have been achieved at a pace which suggests that teams can adjust much more quickly than was apparent 12 months ago.”
Mosley has accepted that the £30million budget may need to be revised and has asked the teams to suggest what they would consider to be the minimum acceptable budget cap by the close of business today.
1 comment so far
1 F1 Fan Videos // Apr 25, 2009 at 8:08 am
I think the budget caps are a good idea, obviously it has helped this season and will attract more teams.. which can’t be bad. All we need now is a shake up in the management of F1….