FIA to abandon cost cap plans - Todt

By on Sunday, April 6, 2014
Mercedes AMG Petronas

Mercedes AMG Petronas

The FIA has abandoned plans to introduce a cost cap into Formula 1 for the 2015 season, according to president Jean Todt.

It was announced at the end of 2013 that plans would be drawn up by the end of June this year in order to implement a cost cap into the sport by January 2015.

But Todt revealed ahead of the Bahrain Grand Prix that such plans have now been abandoned.

"Most of the teams were in favour of the cost cap, but I understand that all the teams that are part of the Strategy Group are against it now," Todt was quoted by Autosport.

"So clearly, if the commercial rights holder, and if six teams, which means 12 of 18 are against, I cannot impose it. It's mathematics. So in this case, no more cost cap."

Todt nonetheless remains optimistic that a way of alleviating the cost of competing in Formula 1 for the teams can be introduced into the the regulations.

"Am I disappointed? In a way I am disappointed because it may be more difficult to achieve the reduction which I feel is needed. But everyone says we are all in favour of reducing the cost, and through sporting and technical regulations."

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