Maxing Out: F1 To Institute Budget Caps For '09 Season
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| Mosley To Institute F1 Budget Cap Next Year |
FIA President Max Mosley has informed all competing F1 teams that their individual operating budgets will be "capped from the start of the 2009 season in an attempt to prevent the sport's costs spiralling out of control," according to Alan Henry of the Manchester GUARDIAN. FIA Consultant Tony Purnell will chair a meeting in Paris on January 31 to develop the exact numbers, but it is believed Mosley "envisages slashing the budgets of top spenders by 50% from their reputed current level of $550M." Mosley said, "These (cost-saving) objectives are likely to include low-cost, long-life, inexpensive running costs for [independent] teams and consistency with industry requirements for efficiency and low carbon emissions" (Manchester GUARDIAN, 1/18). BMW Motorsport Dir Mario Theissen: "Cost reduction is desirable, we support that and the idea of a budget cap looks attractive." In London, Kevin Garside notes teams are "already subject to a five-year freeze on engine development," and that a new set of regulations regarding engine development after 2012 will be drafted (London TELEGRAPH, 1/18).
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