Mercedes executive director (business) Toto Wolff says he is in favour of a cost cap but knows the team would be fighting a losing battle trying to implement one.

FIA president Jean Todt said in Bahrain that the cost cap planned for 2015 would not be introduced because the six teams on the Strategy Group - Red Bull, Ferrari, Mercedes, McLaren, Williams and Lotus - were no longer in favour. Clarifying his position, Wolff said he supports the idea of a cost cap but sees too many issues with other teams which make it pointless pursuing the option.

"Personally, I am in favour of a cost cap," Wolff said. "However, as a team we have realised that some of the larger outfits on the grid could not, or would not, go down that route. Ferrari is a good example. They have all of their operations - both motorsport and road car production - under one entity, making it difficult to screen everything.

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"It would not make sense for us to push against two or three of the big teams for the sake of the principle of a cost cap. It is, however, worth following these discussions up by exploring methods that work for everybody. This is why reviewing the technical and sporting regulations is the right way to go for the time being and we have seen in the past that this can work.

"Significant restrictions on testing are a prime example and we are all working together to find the best solutions. Again, as a team we are in favour of a cost cap or ceiling: both to avoid a spending war between the biggest outfits and also to reduce the gap throughout the grid in this respect."

And Wolff said there are clear examples where the implementation of certain regulations can automatically lead to clear cost reductions.

"Engineers are always going to find loopholes: if something is reduced on the left, possibilities will be found on the right. This is why the concept of a cost cap would be a difficult one to implement and police. Going back to previous changes to the sporting and technical regulations, restrictions on testing made sense.

"Then there have also been initiatives such as curfews and the parc ferme rule. At the time, people were complaining, saying that the cars needed to be worked on overnight or they would be unsafe to race. But we've seen that everything has worked very well under these conditions. We have seen clear projects and processes through which costs can be reduced."