Parr: Time is running out

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Williams F1 CEO Adam Parr has concerns that time is running out for a solution to the budget cap issue in F1. Ferrari will meet with Max Mosley and Bernie Ecclestone today to discuss what they feel is a two-tier regulatory system and their exit from F1 should the regulations not be changed. Toyota and Renault have joined Ferrari in that sentiment.

Most notably in Mr. Parr’s comments is not the fact that time is of the essence but that the issue may not just be the two-tier regulatory system for budget capped team versus non-budget capped team but the entire governance of the sport under the FIA.

“I think different teams have different perspectives. For all of us the economic situation is very important but there is no question that for some of the teams it is governance of the sport.

“The position of FOTA is very important as well.”

That is a new position that while we have suspected it, we have not heard it leveraged as one of the issues that could be on the table today. Luca di Montezemolo was scheduled to be the negotiator at today’s meeting for Ferrari but sadly his father passed away yesterday and Stefano Domenicali will take his place at this historic meeting. Stefano seems an amenable guy so I hope his negotiation skills are top notch as well. I know Luca would be a mighty negotiator in this meeting.

Certainly Williams F1 is in favor of a budget cap but it also apparently understands the gravity of the situation for the big teams and remains understanding of the need for them to resolve their issues. This is important as it continues to show unity of sorts and keeps Williams F1 as a vital part of FOTA.

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