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SBD Global/August 19, 2014/Finance

Former FIA President Max Mosley Says F1 Needs Budget Cap To Control Costs

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Former FIA President Max Mosley said that F1's bid to control costs will "only ever succeed if the sport accepts the need for a budget cap," according to Jonathan Noble of AUTOSPORT. With F1's chiefs and teams having "failed to agree on changes that will drastically cut spending next year," grand prix racing's smaller outfits are "resigned to an ongoing struggle to keep finances in check." Mosley thinks F1 has to "face up to the fact that trying to control budgets through ever-tighter regulations will end in failure." Mosley: "In the end I'm as guilty as anybody, because from 2000 onwards, I focused on the regulations. The theory was, if you get the regulations right, you can bring the costs down. We found that wasn't true." While Mosley "understands the reasons why the sport's biggest teams do not want a cost cap imposed, he reckons incentives to boost the competitiveness of smaller outfits may weaken their stance." Mosley said, "Why not allow a Formula 1 team which is prepared to operate within a very small budget to have greater technical freedom to bring them within a second or so of the frontrunners? To me that is so logical" (AUTOSPORT, 8/18).
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