Formula One to meet over controversial budget cap

Formula One teams and world motorsport supremo Max Mosley will meet on Friday for crisis talks over a controversial budget cap.

A FIA spokesperson told the German Press Agency dpa on Thursday that the meeting will take place on Friday at Heathrow airport.

Also present will be Formula One rights holder Bernie Ecclestone.

Ferrari and Renault lead a majority of teams who have threatened to quit Formula One if a budget cap of $61-million announced by the ruling FIA for next year is not revoked.

Following a meeting of Ferrari’s Board of Directors, organised by president Luca di Montezemolo at the team’s base in Maranello, the team on Tuesday said it would not continue in F1 unless the FIA reverses the decision.

“The Board of Directors examined developments related to recent decisions taken by the FIA during an extraordinary meeting of the World Motor Sport Council on 29 April 2009,” a Ferrari statement said.

“Although this meeting was originally called only to examine a disciplinary matter, the decisions taken mean that, for the first time ever in Formula One, the 2010 season will see the introduction of two different sets of regulations based on arbitrary technical rules and economic parameters.

“The Board considers that if this is the regulatory framework for Formula One in the future, then the reasons underlying Ferrari’s uninterrupted participation in the World Championship over the last 60 years—the only constructor to have taken part ever since its inception in 1950—would come to a close.

Former champions Renault followed Ferrari’s lead on Wednesday.

“If the decisions announced by the [FIA] World Council on the 29th of April 2009 are not revised, we have no choice but to withdraw from the FIA Formula One World Championship at the end of 2009,” team boss Flavio Briatore said in a statement.

Toyota and the two Red Bull-owned teams have also said they cannot enter what would amount to a two-tier championship next season.

The budget cap is not mandatory, but teams which keep to it will have all technical freedom in areas such as engines and aerodynamics. Teams which spend more money face restrictions.—Sapa-dpa

.

Client Media Releases

Utility outages: looking at the big picture
UKZN scientists get L'Or'eal-UNESCO Women in Science grants
Springbok-mania hits MTN head office
Optimise your SMS campaigns this Black Friday