FIA urges Formula 1 to cut costs

By on Thursday, October 30, 2014
Williams Martini Racing

Williams Martini Racing

The FIA says that the absence of Marussia and Caterham from this weekend's United States Grand Prix shows that it was right to push for cost cutting measures earlier this year.

FIA President Jean Todt proposed a cost cap which would reduce spending, but his concept was abandoned when he realised that he would not have the required backing from Formula 1 teams.

Only 18 cars will participate at Austin this weekend and an FIA statement says that they foresaw the situation.

"The FIA has been informed of the financial difficulties of the Caterham F1 and Marussia F1 Teams and of the considerable uncertainty surrounding their participation in the final races of the 2014 championship," read a statement

"It is the responsibility of the FIA Stewards to determine whether or not a team has failed to fulfill its regulatory obligation to take part in all events on the calendar and to take whatever action they deem appropriate.

"However, we have every confidence that the Stewards are fully aware of the financial situation of the teams concerned and these matters are always assessed with extreme care and due regard for the circumstances involved.

"Looking beyond the end of the 2014 season, these failings once again acutely raise the question of the economic balance of the FIA Formula One Championship and justify the position, expressed many times by the FIA, in favour of any initiative that will help reduce costs in order to ensure the survival of the existing grid or attract potential new entrants.

"As such, the FIA, in close cooperation with FOM and the different stakeholders in F1, will continue to work towards maintaining the attraction of the championship and the equitable participation of the teams in it in the years to come."

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