Ferrari wants a drastic reduction in costs in F1

For nearly five years, the economic and financial crisis in which most of the world’s major powers are mired has obviously not spared the grand circus of F1. While the short-term consequences were (pre)visible, with the defections of Honda, BMW, and Toyota, rather succinct reflections had been carried out around capping the teams’ budgets, initially around 50 million euros before this amount was significantly increased. A gentlemen’s agreement that led to the entry into the top discipline in 2010 of Manor (future Virgin and Marussia), Campos (future HRT), and Lotus F1 (future Team Lotus and Caterham), who were quite unhappy when it came to realizing that the promises would not be kept.

Since then, the crisis in F1 has made timid appearances, despite its inexorable presence and inevitable weight. As time goes by, however, it becomes difficult to ignore, to the point that today, media appearances are becoming more radical, like Luca di Montezemolo on the Scuderia Ferrari website, who doesn’t mince words in putting pressure on all members of the discipline: « The global economic situation, particularly in Europe, is very serious and the world of Formula 1 cannot ignore this. We cannot afford to waste more time: we must tackle the issue of costs quickly and with determination. »

The lost time the president of the Italian firm refers to is perhaps concerning the RRA, the Cost Restriction Agreement, which has been slow to implement, following the clear disagreement expressed by the Red Bull company, owner of the eponymous team and Toro Rosso. Mr. Di Montezemolo now wishes for a comprehensive and non-partisan reflection, considering the situation too concerning to allow for internal wars, whether they concern the RRA or other equally pressing issues: Ferrari agrees with the FIA’s position that drastic intervention is required. We are absolutely convinced that, as I have already said, the teams and the commercial rights holders must work together with the Federation on this matter. It is no longer time to get bogged down in sterile discussions or the intricacies of engineers, who are usually only concerned when it is necessary to defend the interests of one or the other: the issue must be addressed at the highest level, without further delay.

The future of Formula 1 is filled with changes: the 2013 and 2014 seasons will see numerous regulatory changes, significantly altering the face of the discipline. The 2014 season, in particular, is expected to implement the V6 engine, which is more economical and environmentally friendly than the current V8. Already postponed by a year, this solution might once again be sacrificed—provisionally?—on the altar of higher than expected costs for customer teams, while engine manufacturers—Renault, Mercedes, Ferrari, and PURE, Craig Pollock’s project—have already extensively begun development work and even lost part of the investment after this initial postponement.

The statements by Luca di Montezemolo suggest that the meeting during which all these issues were to be addressed, held on Monday, May 28, 2012, in Monaco, did not result in genuine points of agreement between the different parties involved, indicating an uncertain future around a question that could prove crucial in the coming weeks and months.