FIA boss Mosley calls for F1 budget limit

January 17th, 2009 - 1:11 pm ICT by IANS  

Stuttgart, Jan 17 (DPA) World motorsport supremo Max Mosley favours an identical budget for all Formula One teams.”Nothing is more fair than having all teams competing with the same budget,” FIA president Mosley told the website of German magazine “Auto, Motor und Sport”.

“I reminded the teams that this measure would solve all problems at once.”

F1 has agreed over the past years to stop its big spending. The worldwide economic crisis, which has hit car manufacturers hard, appears to speed up the necessity to save money. Honda even quit F1 due to the recession.

The F1 teams have agreed to reduce their budgets by 30 per cent for 2009, a sum estimated at 1 billion euros ($1.3 billion). Further cost-cutting is scheduled for 2010 and Mosley said that the teams’ initial resistance, reportedly led by Ferrari, is crumbling.

“They seem to realize that a budget limit is the best solution,” said Mosley.

“It is now about surving 2009 and to implement the plans for 2010 with as few arguments as possible,” he added.

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