Max Mosley unveiled on Tuesday, during the World Motor Sport Council, his plans for reducing Formula 1 costs: implementing a budget cap of 30 million pounds (33 million euros) from 2010 onwards, which includes all operating expenses.<\/p>\n
This ceiling includes \u00ab everything except the motorhome (if the team has one) and all FIA fines. All expenses will be included, even the salaries of the drivers and the team director. \u00bb<\/p>\n
Confident in the possibilities of controlling budgets, the FIA director believes that the teams will play along. \u00ab We went through all this very precisely some time ago. We involved lawyers from Deloitte and Touche (editor’s note: major auditing and consulting firms), as well as financial experts from some current teams. The vast majority of payments are traceable, and every benefit in kind can be assessed. There are a large number of meetings, and it has become clear that we can do it. The problem has been getting the teams to converge on a number. \u00bb<\/p>\n
Moreover, teams that choose to adhere to this budget cap will not be affected by all the other previously voted measures such as the reduction of testing, the limitation of engine regime, or the development freeze, thus allowing new teams to compete with those long-established in F1.<\/p>\n
\u00ab These rules will encourage smart engineering, success will go to the teams with the best ideas, not just to the teams with the most money, \u00bb says Max Mosley.<\/p>\n
With these measures, the FIA hopes to attract new teams as early as next year, specifying that the newcomers will be able to commit as soon as the regulations are published, shortly after the World Council.<\/p>\n
Optimistic about the future of F1 teams, he is also considering asking the World Council to agree to increase the number of teams allowed to participate (currently 12), on the condition that the Safety Commission is convinced that the circuit safety is adequate.<\/p>\n
In conclusion, Max Mosley believes that this will not affect the quality of the show and emphasizes that from the stands or on television, it will not appear any less Formula 1 than it does currently, with extremely expensive cars.<\/p>\n