Red Bull considering pullout from Formula One next year

May 11th, 2009 - 2:50 pm ICT by IANS  

Barcelona, May 11 (DPA) Red Bull owner Dietrich Mateschitz, who finances the Red Bull formula one team, has said he is considering not entering a team next year if the sport’s governing body FIA insisted on the proposed budget cap.
FIA had earlier said that they would implement a 40 million pounds ($61 million dollars) budget cap.

Several teams have already spoken out against the controversial plan, with Mateschitz being the latest.

In an interview made available ahead of publication in Monday’s Salzburger Nachrichten, Mateschitz said that if the proposed plans were kept in place, he would not enter a team.

Teams have to say whether they will race next year by May 29.

“Conditions at the moment are not so, that we would enter a team for next year,” Mateschitz said.

Earlier Sunday, Toyota’s John Howett had said that his team was also considering pulling out of formula one racing if FIA insist on the budget cap.

Presently only BrawnGP, Williams and possibly Force India are in favour of the radical cost-saving plan. FIA have said that teams sticking to the budget cap will enjoy certain technical advantages over those that do not.

FIA boss Max Mosley and the team principals are to meet in London next week to discuss the issue.

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