International Motorsport Federation (FIA) president Jean Todt has stated plans to introduce a cost cap system into Formula One next season have been abandoned, while the motor racing series’ chief executive Bernie Ecclestone has said F1 has agreed to admit two new teams.
Todt had been behind a drive from motorsport’s global governing body to introduce a cost cap system into Formula One next year, despite opposition from team owners who believe the concept is unworkable. F1 had been seeking to introduce a budget cap from the start of 2015, with a December meeting of the F1 Strategy Group and the Formula One Commission revealing that the “principle” of a global cost cap had been adopted. The limit was proposed to be applied from January 2015 and a working group comprising the FIA, representatives of F1’s commercial rights-holder and team representatives had been discussing the matter.
However, speaking at the weekend’s Bahrain Grand Prix, Todt said the proposal has failed to gain the backing of teams, adding that there was little point in the F1 Strategy Group proceeding with the plan without the necessary support. The Autosport website said the six team representatives on the Strategy Group - Red Bull, Ferrari, Mercedes, Williams, McLaren, and Lotus - wrote to the FIA last month to say they did not believe plans for a budget cap were realistic. They instead suggested that cost cuts should be made through technical and sporting regulations.
“Most of the teams were in favour of the cost cap, but I understand that all the teams that are part of the Strategy Group are against it now,” Todt said. “So clearly, if the commercial rights holder, and if six teams, which means 12 of 18 are against, I cannot impose it. It's mathematics. So in this case, no more cost cap.”
Todt added that he had backed the cost cap proposal as he believes it will be harder to achieve cuts in spending through regulation changes. He said: “Am I disappointed? In a way I am disappointed because it may be more difficult to achieve the reduction which I feel is needed. But everyone says we are all in favour of reducing the cost, and through sporting and technical regulations.”
Meanwhile, Formula One commercial supremo Ecclestone has said the series has agreed to accept two new teams, including a US entry proposed by Nascar team owner Gene Haas. Haas, co-owner of Nascar team Stewart-Haas, said in January that he had entered an application to launch a new American F1 team through his Haas Racing Developments outfit.
The FIA in December launched a tender process seeking expressions of interest from would-be new teams for a potential slot on the Formula One grid from the 2015 or 2016 season. Full applications had to be entered by February 10, with a decision originally scheduled to be made on February 28.
“They will be accepted,” Ecclestone told reporters at the Bahrain GP when asked about Haas’s application. “We've accepted another team as well, but whether they'll make it or not is another story. We are happy to have another couple of teams. I've spoken to Jean Todt and we agreed that another two teams want to come in, we'll let them in.”
source: sportbusiness
