F1 »

FIA, FOTA agree to cut costs.

The FIA, Formula 1's governing body, has announced that 'significant cost savings' will be introduced in 2009 and 2010, following the meeting in Geneva today [Tuesday] between the powers that be and the F1 teams.

A joint statement read:

"Today's meeting in Geneva has produced significant cost savings for 2009 and 2010.

"FOTA [Formula One Teams' Association] are working urgently on further proposals for 2010 and thereafter."

No details on the steps that will be taken were released, however yesterday the FIA did publish what would be on the agenda [see separate story – click here].

More to follow as and when we get it...

Related Pictures

Click on relevant pic to enlarge
FIA Motorhome, Spanish F1 Grand Prix, Catalunya, 11-13th, May 2007
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]
Kimi Raikkonen tests the 2017 F1 tyres in Abu Dhabi [credit: Pirelli]

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.

Jim C USA - Unregistered

October 22, 2008 4:55 AM

I've been a motorsports fan for some 55 years. Growing up in the U.S., I didn't discover F1 until the mid sixties. I was immediately smitten. The best of the best. Nothing spared. No challenge too great. That included finding the money to compete at the highest level, which I still consider part of the competition in F1. It would be a sad day, for me anyway, to see F1 denigrate to something less for the dubious contention of "cost cutting". I've witnessed the open wheel series (IRL) in the U.S. become a shell of what once was arguably a close second (CART) to F1. All under the guise of cost cutting.

© 1999 - 2017 Crash Media Group

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