FIA calls for special meeting on cost reduction

A few days ago the FIA announced that it had given up on the notion of designing a cost-cap system for F1 teams. This was prompted by resistance from the big teams but it was equally met with frustration by the smaller teams this past week. It’s been a lingering issue for some time and highly focused since 2008.

The FIA World Motor Sport Council met this week and have called for meeting on May 1st to discuss the matter. Perhaps cost caps can be sought through the new Strategy Group via regulatory control of the sport but that remains to be seen. The issue is one of the topics that stalled the Formula One Teams Association and it will be interesting to see if the new FIA Strategy Group can achieve what the teams couldn’t on their own.

The FIA also discussed these issues as well:

1. F1 Cost Reduction
The FIA, the Commercial Rights Holder (CRH), and all the F1 Teams have recently confirmed their commitment to work on cost reduction. Accordingly, the FIA President Jean Todt and the CRH Bernie Ecclestone will organise a meeting with all the F1 Teams on 1 May 2014, followed by a F1 Strategy Group meeting, to clarify the means to achieve a substantial F1 Team cost reduction.

2. Power units
As already announced, a study on engine noise is under way with preliminary results expected shortly.

3. New team selection process
Lastly, the FIA has launched a selection procedure for an additional F1 team(s), and applications of a high standard have been received. In close consultation with the CRH, the FIA has accepted the candidature of Haas Formula LLC and are in the process of conducting further investigations for Forza Rossa.

The American team is not the only one being looked at as a possible entry for 2015 and the sound of the engines will be explored but F1 boss Bernie Ecclestone has stated that changing the sound can’t impede what Mercedes has clearly achieved in competitive advantage.

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