Chinese Club To List On Stock Market Pini Zahavi Bails Out Belgium's Mouscron EPL Reveals '14-15 Revenue Distribution BCCI Mulling Performance Incentives UEFA Softens FFP Regulations Cricket World Cup Generates $844M Scotiabank Warns CONCACAF Sky, Liberty Join $7B Race For F1 Málaga Exec Addresses Club's Debt Andretti Urges U.S. To Rescue F1
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
SBD Global/May 5, 2014/Finance
Smaller Teams 'Optimistic' After F1 Teams Step Away From Cost-Cutting Clash
Published May 5, 2014
AGAINST CAP: KURIER reported Mercedes F1 team Exec Dir Toto Wolff "is against a hard budget cap for F1." Wolff said that the 11 F1 teams "are essentially on the same page when it comes to the question of cost reduction." Wolff said that the goal now is "to make a decision 'that helps everyone and not only the small teams' during the next meeting of the World Motor Sport Council" on June 30. Wolff: "It's the unanimous opinion of all teams that we want to drastically reduce costs." Wolff added that he "is against a hard cap because, among other things, it would be difficult to monitor at certain teams." Therefore, a hard cap "is not the right solution" (KURIER, 5/4).