The proposed cost cap for F1 is going to be dropped due to the objections of a number of teams, says FIA president Jean Todt.

Following a meeting of the F1 Strategy Group - made up of the FIA (six votes), commercial rights holder (six votes) and six teams - in Paris in December last year, it was announced that a cost cap would be implemented in 2015, with the plans being firmed up in February when Todt, Bernie Ecclestone and the teams "unanimously agreed that cost reduction and cost control regulations will be presented to the WMSC in June 2014 for introduction in January 2015."

However, Todt said on Sunday in Bahrain that he is no longer able to deliver on those plans due to all six teams who are part of the Strategy Group - Red Bull, Ferrari, McLaren, Mercedes, Lotus and Williams - all changing their stance on the issue, with a majority required.

"My feeling is that Formula One is far too expensive and something needs to be done," Todt said. "As the governing body, for us, cost plus or minus is zero. But I feel we have a responsibility to address the problem for the present and future of Formula One. It's clear the biggest team gets more revenue from sponsors, from commercial and the smallest team less from commercial and from sponsors. So we need to address that.

"We had different options. The options are through regulations - technical and sporting - and through a cost cap. Personally, years ago I didn't believe we could really control through a cost cap. It was demonstrated to me that you could, so I said 'OK, if you can then I'm happy to put that on board'.

"Most of the teams were in favour of the cost cap. I understand that all of the teams that are part of the Strategy Group are against the cost cap now. So clearly, if the commercial rights holder and if six teams - which means 12 out of 18 - are against then I can't impose it, it's mathematics. So in this case there is no more cost cap."