26/10/2015
NEWS STORY
The FIA has revealed that Ferrari vetoed plans to introduce a cost cap on engines.
The FIA has made the revelation as it seeks to introduce a low cost independent engine to the sport, a move revealed by Bernie Ecclestone at the weekend.
In a brief statement issued this evening, the FIA said:
The FIA has studied cost reduction measures for teams participating in the FIA Formula 1 World Championship which were not conclusive, including:
A global cost ceiling,
A reduction in costs via technical and sporting regulations,
An increased standardisation for parts.
The FIA, in agreement with FOM, suggested the principle of setting a maximum price for engine and gear box for client teams at the last Strategy Group meeting.
These measures were put to the vote and adopted with a large majority.
However, Ferrari SpA decided to go against this and exercise the right of veto long recognised under agreements governing F1.
In the interest of the Championship, the FIA has decided not to legally challenge Ferrari SpA’s use of its right of veto.
Therefore the FIA will initiate a consultation with all stakeholders regarding the possible introduction of a client engine, which will be available as of 2017. Following this consultation a call for tenders for this client engine, the cost of which would be much lower than the current power unit, could be undertaken.
Supported by FOM, the FIA will continue in its efforts to ensure the sustained long-term development of the Championship and look for solutions enabling it to achieve this. It asks all of the teams to make a positive contribution to the success of this approach through proposals and initiatives in the interest of the Championship and its continuation over the long term."
The move highlights not only Max Mosley's recent claim that the engine manufacturers now control the sport, but the vast power Ferrari enjoys in terms of vetoing virtually every decision concerning the sport.
Speaking at the weekend, Ecclestone, who has been frustrated by the costs of the new formula and Red Bull's much publicised failure to secure an acceptable engine deal, revealed: "The FIA will put out a press release on Monday or Tuesday.
Referring to the new engine supply, he said: "They will probably have more power and use more fuel. It means, I suppose, that there would be regulation changes, which have already been anticipated for 2017 so there's nothing new."
Asked whether the move was merely a scheme to get the major manufacturers to reduce the cost of their engines, he said: "Not really, it’s very simple. If we don't, we'll probably lose a few teams.
"It's nothing to do with us what people charge,” he added. "We have no control, and don't want it. They can charge what they like. What is being introduced will be an awful lot cheaper than what it currently costs.
"There's a couple of interested parties on the horizon," he revealed, admitting that Cosworth is one of them.