Todt: Cost cutting ideas a joke

By on Tuesday, May 13, 2014
Red Bull/Getty Images

Red Bull/Getty Images

FIA president Jean Todt says that the cost cutting proposals put forwards by the Formula 1 teams are a 'joke'.

Todt summoned a meeting of Formula 1's 11 teams earlier in the month following the apparent abandonment of the idea of a cost cap.

Ideas proposed included a tyre warmer ban and the introduction of more standard specification parts, but Todt does not believe that such changes will be sufficient.

"My advice was make a contribution as to how we reduce the costs," Todt said.

"We know they have budgets of between $100 and $400 million, and the proposal they seem happy with is to reduce by $2 million, which is ridiculous.

"When we speak about costs we are talking about reducing them by 30-40%, and then we can feel comfortable. I have some ideas, some input. Now I want to see what the teams say.We will meet all of the people again. Hopefully they are sensible people and they come up with some sensible suggestions. But what was proposed was a joke."

Todt believes much of the saving can be made by reducing the number of personnel within Formula 1 teams.

"We have too many people in a team," he said. "I was in Pau the other day attending a gala dinner and I saw a movie with [Juan Manuel] Fangio, [Tazio] Nuvolari, Jim Clark and Jack Brabham, and there were maybe 10 people in a team.

"Times change, we must accept that, but between having 800 to 1000 people or 30, there has to be a proper balance. What costs money are people. It is big.

"Then we have the number of developments that are made, the number of parts. This is what we are assessing."

My advice was make a contribution as to how we reduce the costs," Todt said. "We know they have budgets of between $100 and $400 million, and the proposal they seem happy with is to reduce by $2 million, which is ridiculous.

"When we speak about costs we are talking about reducing them by 30-40%, and then we can feel comfortable. I have some ideas, some input. Now I want to see what the teams say.We will meet all of the people again. Hopefully they are sensible people and they come up with some sensible suggestions. But what was proposed was a joke.
Read more at http://en.espnf1.com/fia/motorsport/story/157997.html#vPLJt11oPoiWTTax.99


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