FIA reveals cost-cutting talks with F1 teams

Fri, 15 June 2012, 04:35

Jun.15 (GMM) F1’s governing body on Friday confirmed it is in talks with the teams about cutting costs.

The vast majority of the teams – even big-spender Ferrari – recently wrote to FIA president Jean Todt to ask that the Paris federation get involved in officially policing the reduction of costs.

Reigning world champion Red Bull, and its satellite Toro Rosso, are the odd ones out, but the momentum for a new radical cost-cutting push is building, amid talk a simple budget cap – Max Mosley’s once highly-controversial proposal – could be the answer.

“At their request, the FIA is having active discussions with teams regarding cost control,” the governing body said after a meeting on Friday of the World Motor Sport Council in Paris.

The FIA added that “any amendments to the technical regulations resulting from a further limit on expenditure on the chassis will be submitted to the (council) via a fax vote before 30 June”.

“The intention is to help all teams participate in the championship in a fair and equal manner,” the statement added.

The FIA also revealed that it is having “constructive” talks with Bernie Ecclestone over the new Concorde Agreement, with a deal on the cards “in the coming weeks”.

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