£40m Budget Cap and Controversies

[Ali]

FOTA calls for talks over budget cap

In a short statement issued after the meeting, FOTA said progress had been made in keeping the group together, following the disagreements that had marred the start to the season.

However, the body did express some concern about the FIA's plans for a voluntary budget cap that could lead to a two-tier F1 from next year.

"FOTA held a positive and constructive meeting and agreed to continue working together in a methodical manner for the definition of further cost-reduction in 2010 and 2011, progressing along the path begun in 2008," said the statement.

"FOTA has concerns with the decisions taken at the last WMSC meeting regarding the 2010 regulations and therefore asks to begin urgent consultations with the FIA."

The FIA announced last week that an optional £40 million budget cap would be introduced next season, with teams that choose to continue spending freely set to run to more restrictive technical rules.

The governing body has insisted that many teams - including potential new F1 entrants - are in favour of this move.

"The FIA believes that cost capping will prove attractive, and it hopes that over time all teams will join," said an FIA statement released after last week's World Motor Sport Council announcement.

"So far, interest has been extraordinarily high from both existing teams and potential new entrants."

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http://www.autosport.com/news/report.php/id/75076

[dazmoffman]

What does the name/brand F1 mean to you?
personally i think this could be the end of Formula 1if these budget caps are in place after all what would be the point, i think i would rather watch the local holigans play football in the park on sunday than witness a poor version of F1 i think its an insult to its roots.
the whole point of F1 is that it is a glamourous sport with cars that the normal working class man can only dream of, hitting speeds of 190mph+ turning with break neck speeds i belive this budget cap will have us all watching ford focus's and peugot 207s in 2 to 3 years so i think the fia should re-name this sport touring car+.
and one other thing why was eddie jordan comenting on the "unnessesary need" for the giant motorhome/showroom things as they cost about £40m, does he think the people that travel to their home GPS see these things everyday. the last time i went to the british gp i parked my ford escort (it was 11 years old and sh!te) inbetwwen a ferrari 360 and a boxteri nearly wet myself, every time i have ever been to a GP that is the sort of thing that makes me realise what makes the sport so special knowing that each lorry is worth more than my house, that the nose cone of an F1 car is probably close to my annual wage and the steering cost more than my actual car and....the fact that its differant than any other sporting event i have ever been to. F1 is awesome to watch and being there amongst it is amazing and these budget caps could turn this into general motorsport.

[Jaguar]

So far we have BMW , Toyota and now Red Bull could be followed by Ferrari 2 and other teams ...

Reducing the costs during the years have been something good and bad at the same time for example the exit of Michelin was a bad thing ...

and as Khodor said , F1 lives without Ferrari but Fans won't , now we have several teams threating to quit and as a Red Bull supporter i'd agree with Khodor i won't keep watching F1 if Red Bull Team the whole it left F1 so will other team fans ...

ok Budget cap have brought more teams into competition somes were about to be in and didn't some who are thinking of a come back such as Lola somes are looking forward for an entry as some GP2 team owners and Spanish Ppl ...

but 40 Mill is too much ... the economic problem that hit the world is now backed up by FIA for the F1 , lots of ppl to loose their jobs again and ...

i still believe FIA will do something soon and react over the 40 mill cap as they did for the rule of 2010 "Winner takes it all" they already banned this rule and they will ban the budget Cap as they will for Kers ... Kers Sucks

[JoostLamers]

Ferrari to withdraw from F1 in 2010!

Spoiler:

Ferrari have announced they are to withdraw from Formula One next season.

The Italian team will pull out of the sport because of a dispute with the governing body, the FIA, over its plans to introduce a £40million budget cap from next season.

"Ferrari confirms its opposition to the new technical regulations adopted by the FIA and does not intend entering its cars in the 2010 F1 Championship," a statement read on Ferrari's website.

Ferrari claim the changes violate the terms of a 2005 contract they signed committing themselves to the championship until the end of 2012, terms that include a “right of veto” on any technical regulation change.

Ferrari have competed in every season since the championship’s inception 59 years ago.

More news to follow...

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http://www.timesonline.co.uk/tol/sport/formula_1/article6274756.ece

[swca92]

Ferrari won't quit-Bernie said that today and I agree with him. The current budget cap idea is stupid but Max's stupid ideas are often pushed through. A budget cap without so many freedoms is the way to go, cos currently the capped teams will be several seconds faster than everyone else.

[JoostLamers]

I agree with you to, The budget-cap will be round €80 million first, the year after €60 million an then maybe 50-40 or directly €40 million. That's what'll happen I think.

[Rachael The Great]

i dont believe Ferrari would quit. (i was going to back that up with a reason but i have no other comment )

[Totopupu]

"believe"?

It's sure that Ferrari will not quit F1 and if they leave F1, it's just for create with BMW, Renault, Williams, ... a new championship named F?

[syafiqa]

Ferrari only try to threaten bernie with his stupid idea..but who knows in the future, anything can happen. I cant imagine f1 without ferrari. Totally no excitement.

[phil1993]

Ferrari to withdraw from F1 in 2010!

Spoiler:

Ferrari have announced they are to withdraw from Formula One next season.

The Italian team will pull out of the sport because of a dispute with the governing body, the FIA, over its plans to introduce a £40million budget cap from next season.

"Ferrari confirms its opposition to the new technical regulations adopted by the FIA and does not intend entering its cars in the 2010 F1 Championship," a statement read on Ferrari's website.

Ferrari claim the changes violate the terms of a 2005 contract they signed committing themselves to the championship until the end of 2012, terms that include a “right of veto” on any technical regulation change.

Ferrari have competed in every season since the championship’s inception 59 years ago.

More news to follow...

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http://www.timesonline.co.uk/tol/sport/formula_1/article6274756.ece

Joost, you've taken that out of proportion: Ferrari will only quit if the budget cap isn't amended, which it will be and Ferrari will stay

[Jaguar]

F1 without Ferrari , BMW , Mercedes , Renault and lately Toyota would be Formula Cosworth

All those teams have their engines in F1 we already lost Honda i don't like to watch another A1 GP or GP 2 or GP Asia or what'ever the others are called with different team names but same engines ... this is bulls**

Bernie and Max should be Booted from FIA ... let's sign a petition

[AzShadow]

It's already pretty certain that Ferrari, Toyota, BMW, Red Bull and Toro Rosso would be leaving if the current budget cap rules stay. And in that case the other manufacturers would follow because they could just as well found a new series altogether. Yeah, for now it sounds like a bluff, but we must remember that the situation hasn't been this serious in F1 for a long time. Bernie will do all he can to stop this from happening because definitely the race organizers and TV companies won't be paying him ridiculous amounts of money anymore if all the big guys are gone.

[phil1993]

Well, if all the teams go away they'll create another racing series like F1

[megasyxx]

here we go, gp1

[newtrex]

Alright, I can put this in two ways:
If budget cap is not removed than
- Ferrari quit
- BMW, Red Bull, Toro Rosso, Toyota and may be Mercedes quit
- Remains will be Brawn, McLaren, Williams and all new teams
- Will have 1 or 2 engine supplier (Very interesting)
- Everybody will follow the budget cap so the cars will be faster again
- I would still say F1 will be boring

If FOTA form a new break away series
- All the FIA approved circuits will not be used (like Monaco, Monza, Spa etc)
- That will leave with all the non approved tracks (which might not be the best of interest)
- Although the cars will be super cool, the tracks will not be the best in the world
- Racing will not be as good

So for the good of spectators the budget cap should be removed.