F1 »

di Montezemolo eyes `complete new F1` in 2012.

Luca di Montezemolo has spoken enthusiastically of 'a new Formula 1 in the year 2012', based on 'economic levels as in the 90s' – but the Italian refused to elaborate on just what had been discussed and decided during the watershed FIA-FOTA meeting in Monaco yesterday.

The sport's governing body and Formula One Teams' Association came together in the Principality to hold crisis talks about the future of F1, in the wake of escalating expenditure and Honda's shock withdrawal last Friday.

Whilst Mosley expressed that he was 'delighted with the outcome' of what was described by both parties as 'the most successful meeting on Formula 1 matters which any of the participants can remember' [see separate story – click here], it is still not clear just what has been resolved in terms of engine regulations for the 2010 campaign and beyond.

FIA President Mosley had been pushing for the introduction of a standardised, low-cost, Cosworth-supplied powertrain, whilst FOTA had by contrast put forward an alternate low-cost, 1.8-litre turbocharged, but not standard, engine formula. The agreed decision will go before the World Motor Sport Council in Paris on Friday for final ratification.

“I am very glad about the climate of enormous collaboration at the meeting,” remarked FOTA chairman and Ferrari President di Montezemolo. “There is a common sense of the difficult moment of our sport. Yesterday we could see the great responsibility of all the participants.

“The worldwide economic crisis and the enormous increase of costs in Formula 1 over the last years led the FIA and its president to give a strong and right impulse to cut costs as of 2010 to get our sport back into acceptable economic dimensions, so all teams will be able to participate.

“The answer we could find was beyond all our expectations. The extreme compactness, never seen before, and all the participants' passion for this sport brought the FOTA members to go beyond the requests made by President Mosley, taking into account courageous proposals, while voting unanimously for a substantial reduction of costs already as of 2009, which will be the most difficult year for the world economy and for the automotive industry in particular.

“The proposals presented to President Mosley, with Formula 1's DNA in mind – made of technology and sportiness – will enable us to drastically cut costs as of the upcoming season to have a complete new Formula 1 in the year 2012.

“Projected into the future [and] distinguishing itself by an innovative spirit and great attention as far as the environment is concerned, [it will nonetheless be] on economic levels as in the '90s, while maintaining the fascinating challenges, which is one of the factors [explaining] why this sport is one of the most popular sports in the world.

Related Pictures

Click on relevant pic to enlarge
09.09.2006 Monza, Italy,  Luca di Montezemolo (ITA), Scuderia Ferrari, Fiat President, Chairman & Managing Director - Formula 1 World Championship, Rd 15, Italian Grand Prix, Saturday
Sebastian Vettel, Kyle Busch, Kurt Busch, ROC [Credit: ROC]
Juan Pablo Montoya celebrates after winning the 2017 Race of Champions title in Miami [Pic credit: ROC]
Race of Champions 2017, action [Pic credit: ROC]
Juan Pablo Monotya. Race of Champions 2017, action [Pic credit: ROC]
2017 Race of Champions line-up in Miami [Pic credit: ROC]
George Russell, Mercedes junior programme, [Credit: Mercedes]
Kevin Magnussen - Haas F1 Team [credit: Haas F1 Team]
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]

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.

rob - Unregistered

December 12, 2008 6:12 PM

The pay scale is based on what the market will bear. As for no drivers being qualified to do much else I have to dis-agree with you Matt. Most are highly educated and some are even engineers. The majority of the drivers keep sponsor relationships after racing and go to another form of the sport and continue to be payed better than most.

© 1999 - 2017 Crash Media Group

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