F1-Fansite.com

adrotate banner=”4″]

F1 News

F1 set for cost-cutting summit on 1 May

F1 results archive

F1 results archiveF1 will move to put cost-cutting efforts back on the agenda during a May 1 meeting.

Earlier, it was reported FIA president Jean Todt was considering new measures including reviving 'active suspension', after the new top team-dominated Strategy Group blocked his move to impose budget caps in 2015.

A meeting for 1 May has now been called.

"Time is running out," Monisha Kaltenborn, whose Sauber team ran into high-profile financial strife last year, is quoted by the German news agency DPA.

"Actually, the time for this decision is long gone, but it's never too late," the Swiss team's boss added.

F1's smaller teams are angry that their more powerful rivals are thwarting moves to reduce spiralling costs, and reportedly threatening to challenge the Strategy Group against European competition laws.

"It's not about small or big teams," insisted Force India chief Bob Fernley, "it's about the future of formula one."

World champion team Red Bull's Christian Horner, however, insists the biggest teams are not opposed to reducing costs.

"We need to identify the cost drivers and equalise the playing field for everyone," he said.

Horner argues, however, that a budget cap was not the right solution.

"How would a budget limit of $200 million help Sauber? They wouldn't save a single dollar," he claimed.

A key meeting, to be presided over by Todt and Bernie Ecclestone, will now take place on May 1, between the Chinese and Spanish grand prix.

"Hopefully we will find some solutions, and it's not another of those meetings where we do not make a lot of progress," Kaltenborn concluded.

Book discounted tickets and reservate your hotel room in our F1 Tickets Shop.

Please share this article & subscribe to our FREE weekly
PinIt
  submit to reddit  

Latest posts in this F1 category:

See older posts in our F1 Archive »

Stay Updated by F1-Fansite!

2017 F1 Merchandise

2017 F1 MerchandiseGet your 2017 F1 Merchandise here.

Early Booking Discounts on F1 Tickets

Buy F1 Tickets cheaper at F1-Fansite.com 2017 Formula 1 Season Early Booking Discounts are:
F1 RaceDiscount
Book entrance Belgian F1 GP Belgium '1775% Sold OutBook Now
Book entrance Italian F1 GP Italy '1730% Sold OutBook Now
Book entrance Belgian F1 GP Singapore '17AvailableBook Now
Book entrance Malaysian F1 GP Malaysia '17AvailableBook Now
Book Japanese F1 GP Japan '17AvailableBook Now
Book entrance USA F1 GP USA '1710% DiscountBook Now
Book entrance Mexican F1 GP Mexico '17AvailableBook Now
Book entrance Brazil F1 GP Brazil '17AvailableBook Now
Book entrance Italian F1 GP Abu Dhabi '1730% DiscountBook Now
Book entrance Australia F1 GP Australia '18AvailableBook Now
Book entrance Spain F1 GP Spain '1820% DiscountBook Now
Book entrance Monaco F1 GP Monaco '18AvailableBook Now
Book entrance Monaco F1 GP Germany '1829% DiscountBook Now

Polls

Do you want the Halo?

View Results

Loading ... Loading ...
F1 Polls

We make use of cookies to personalise ads, to make use of social media & to analyse our website traffic. We also share this information with our partners for use of social media, ads & analyses. These partners can combine our info with other info that you already shared with them or that they have gathered of you by using their services. By continuing to use this website, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close