http://www.autosport.com/news/report.php/id/64743 wrote:A budget cap is to be introduced in Formula One from the start of 2009, FIA president Max Mosley has confirmed.
In a letter sent this week to all 11 team bosses, Mosley outlines that plans for a budget cap are to now be put in motion after the idea received widespread support in a meeting in Paris last week.
Mosley outlines details of the budget cap plans in the letter, a copy of which has been seen by autosport.com, and confirms that areas falling outside the budget cap are engine costs, marketing and promotion, plus team principals' wages.
"Starting in 2009, there will be a cap on expenditure for all Formula One costs other than engines (as to which, see above), drivers and expenditure exclusively for promotion and marketing," wrote Mosley in the letter.
"Because of the variety of arrangements, particularly shareholdings, team principals' remuneration will not be included in the cap."
A meeting between FIA technical advisor Tony Purnell and financial representatives of the teams will be held in Paris on January 31, after which the FIA hopes to set the budget cap figure for 2009, and possible 2010 and 2011 as well.
So, the top drivers will still keep their huge salaries, but the car development will definitely decline. The performance of the cars will probably come closer to each other, but then again, it's hard to beat the opponent if you can't make drastic, expensive developments.
What do you think?