Mosley confirms F1 budget cap for 2009

Fri, 18 January 2008, 03:39

In a letter received this week by F1 team principals, FIA president Max Mosley confirmed that a budget cap will be introduced in 2009.

Mosley’s letter, summarising the conclusions of a recent meeting in Paris, said a financial working group will between now and June determine the details of the restrictions, including the size of the cap.

Some of the details, however, are already clear, including the fact that engine, driver, marketing and team principal remuneration costs will be exempt.

It is also believed that the annual cap will be set around the (US) $150m per team mark.

The next meeting on the subject between the teams and the FIA’s Tony Purnell is scheduled for January 31 in Paris.

Mosley said the budget cap, if successfully imposed and not blocked by the majority of F1 teams, will be instead of proposed restrictions on wind tunnel and CFD use.

He also confirmed the reduction of the current engine freeze from ten to five years, preceding a completely new engine formula in 2013.

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