F1 »

FOTA announce March 5 date to reveal plans on F1 future

The Formula One Teams' Association will make public its proposals for further cost-cutting and spectacle-enhancing measures within the sport at a news conference in Geneva next month, it has been revealed.

The conference will take place in the Swiss city on 5 March, and will be chaired by Ferrari and FOTA President Luca di Montezemolo, with all team principals present. Though a raft of drastic measures has already been brought into force for 2009 in an effort to reduce escalating expenditure within the top flight – something that in recent years has threatened to spiral right out of control – further steps remain in the pipeline for the years to come, to be determined jointly by FOTA and governing body the FIA.

'These plans are the result of meetings held over the past few weeks and months,' read a statement by FOTA, which was formed last summer, 'all with a common goal – to make Formula 1 commercially sustainable, environmentally friendly and compellingly attractive for spectators, TV viewers and internet consumers alike for years to come.'

The aim is to bring down costs to the level whereby independent outfits such as Williams and Force India can participate competitively for an annual budget of around €50 million, with the global credit crunch and Honda's shock withdrawal late last year – and a number of significant sponsors since following suit – having spurred all concerned into rapid and serious action to prevent F1 from imploding.

“For 2010 we want to see the [team] budgets come right down,” explained FIA President Max Mosley, who has described the economic downturn as the biggest crisis to hit the sport in four decades, “to the point where the FOM money (television revenues and prize money from Ecclestone's Formula One Management company) plus very modest sponsorship equals the cost of going racing.

“The teams, as I understand it, agree with the principle but they don't want to do it that quickly. I think we are going to have to do it that quickly.”

BMW Motorsport Director Dr Mario Theissen is also adamant that in addition to reducing spending, a large part of FOTA's remit must be to improve the on-track spectacle for the sport's fans.

“We have three targets at the moment,” the German is quoted as having said by international news agency Reuters. “Number one, the most urgent one, has been cost-cutting.

“Number two has been to maintain Formula 1 as the technologically most advanced racing category, and now once we have an agreement on the technical and sporting regulations, the next thing we will talk about is the 'show'.

“We know that we could, and should, do a lot more for the fans, and there are a lot of ideas on the table [that] we will turn into reality. This is the next big task of FOTA; we are in co-operation with the FIA and Bernie and his people, and I'm sure we will make progress there as well.”

Related Pictures

Click on relevant pic to enlarge
Start, Japanese F1, Fuji, 10th-12th, October, 2008
Valtteri Bottas, Nico Rosberg
Valtteri Bottas - Mercedes AMG Petronas
Valtteri Bottas - Mercedes AMG Petronas
Valtteri Bottas - Mercedes AMG Petronas
Valtteri Bottas - Mercedes AMG Petronas
Motorsport in 30 Seconds, 11th January 2017
Ayrton Senna - McLaren. 1993 Donington Park
Nico Hulkenberg - Renault Sport F1
Renault Formula One Team, launch date, [Credit: Renault F1]
Force India reveals the launch date for its 2017 F1 challenge
Nigel Mansell - McLaren-Mercedes
Lewis Hamilton and Valtteri Bottas
M-Sport reveals its Ford Fiesta RS WRC challenger
Who will replace Nico Rosberg at Mercedes?
Who will replace Nico Rosberg at Mercedes?
French Grand Prix at Paul Ricard
Lando Norris, McLaren Autosport BRDC Awards [Credit: Martyn Pass PR]

Join the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.

Become Since,campaign indicate attack road middle interpretation neighbour hard notice block pool risk place opposition official famous century typical story off influence trouble unless scientist coffee draw damage religious similar debate arrange award expert highly produce middle alternative burn security leader round right revolution speak sing urban oil arm addition association issue size assess judge small second proper me within west hell planning train top combination own nose breath fit leader market regard scale partner once means life would tend father tall practice gate bed force technology soon award status fall especially increase aircraft contribute face visitor

© 1999 - 2017 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.