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2013 F1

FIA: Team significantly need cost cuts for 2014 F1

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Formula One World Championship, Rd 17, Indian Grand Prix, Buddh International Circuit, Greater Noida, New Delhi, India, Race Day, Sunday 30 October 2011.FIA has cautioned that Formula 1 teams is significantly need cost cuts for 2014 season, following introduce new regulations to the sport and also several team under struggle with financial problems.

In 2012, all but two teams were in favour of the FIA policing a chassis Resource Restriction Agreement (RRA), but the governing body did not want to execute it without common support.

Formula One governing body president Jean Todt has so far chosen not to take a provoking approach to the teams and force rule changes through.

“I have been reading a lot of things about cost-cutting and it is something that you cannot address with the teams,” Todt said.

“There have been a lot of discussions with the teams to talk about RRA and all that – and at the end of the day the teams said we have never had a strong and clear approach about the proposal of cost cutting.

“At the end of the day we met in Maranello with a few teams, and a consensus was against this [RRA] proposal of cost cutting.

“So where are we now? We have been implementing, when the Concorde is settled, a new governance, where there will be a strategy group.

“It will be on the agenda, at the first meeting when we are involved, to bring in cost cutting. The FIA has six votes, the CRH has six votes, and six teams have one vote each. I can guarantee you the FIA will vote in favour of cost cutting. Then we will see.”

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