The International Automobile Federation (FIA) has revealed drastic cost-cutting measures to help Formula One teams through the world’s financial crisis. The use of standard engines from 2010 is just one of the proposals outlined by FIA president Max Mosley in a letter to the 10 teams.
“The FIA believes that Formula One costs are unsustainable,” it said. “Even before the current global financial problems, teams were spending far more than their incomes.” Mosley, whose plan, if accepted, will be implemented over five years, expects revenue from sponsors to dry up after several high-profile backers became embroiled in the credit crunch.
“There is now a real danger that in some cases these subsidies will cease,” added the FIA. “This could result in a reduction in the number of competitors, adding to the two team vacancies we already have and reducing the grid to an unacceptable level.”
Honda-backed Super Aguri folded after the Spanish Grand Prix in April while a planned Prodrive team has been shelved. Meanwhile, former champions Williams are sponsored by bailed-out bank RBS and companies owned by troubled Icelandic retailer Baugur.
Three proposals have been put to the Formula One Teams Association (FOTA) for the period between 2010 and 2012. They include a call for a homologated engine produced by a single supplier, after a tender, with current engine makers free to build their own to the same design. Another idea would be for a consortium of teams to obtain a low cost engine from a single supplier, while a third alternative, proposed by FOTA would provide independent teams with a powertrain (engine and gearbox) for less than £3.8m per team per season. The latter arrangement would also include 30,000km of testing and on-track assistance. The FIA also said it is considering common chassis parts such as standard suspension and wheels and other expensive parts which “add nothing to the spectacle or to the public interest of Formula One”.
James Horncastle©Guardian Newspapers Limited 2008
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