Site logo

Budget capping scheduled to be introduced in 2009

NEWS STORY
18/01/2008

Max Mosley would appear to have had his way (again!) with budget caps due to be introduced in 2009.

According to Reuters, which has seen the document, in a letter to the eleven teams that will contest the 2008 championship, the FIA President writes that the budget cap will apply to all costs "other than engines, drivers and expenditure exclusively for promotion and marketing".

"Because of the variety of arrangements, particularly shareholdings, team principals' remuneration will not be included in the cap," he added.

Later this month, Tony Purnell, former Jaguar team principal and now employed as a as a Technical Consultant by the FIA, will hold a meeting with financial representatives from the teams following which the sport's governing body should be in a position to decide a level of capping for 2009, 2010 and 2011.

According to Reuters, "a financial working group will also be appointed to report in time for detailed regulations to be prepared for June 2008".

Although there has been talk of budget capping for some time, leaving many within the industry, and indeed fans, aghast, like safety it has become a cause celebre of the FIA President.

However, following drastic proposals Mosley suggested last year including serious limiting of wiindtunnel use, both sides appear to have found some common ground - a typical Mosley ploy.

Earlier this week, at the launch of his team's 2008 contender, BMW Team Principal Mario Theissen said: "If a team decides to spend a lot of money on drivers, it should be possible for another team to spend a lot of money on a computer or a wind tunnel."

LATEST NEWS

more news >

RELATED ARTICLES

LATEST IMAGES

galleries >

  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images

POST A COMMENT

or Register for a Pitpass ID to have your say

Please note that all posts are reactively moderated and must adhere to the site's posting rules and etiquette.

Post your comment

READERS COMMENTS

 

No comments posted as yet, would you like to be the first to have your say?

Share this page

X

Copyright © Pitpass 2002 - 2019. All rights reserved.

about us  |  advertise  |  contact  |  privacy & security  |  rss  |  terms