F1-Fansite.com

F1 News

F1 set for cost-cutting summit on 1 May

Posted on by
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 F1 Newsletter

PinIt

Latest F1 News posts:

See older posts in our F1 News Archive »

Stay Updated by F1-Fansite!

Buy F1 MerchandiseBuy F1 Merchandise of your favourite driver or team.

Early Booking Discounts on F1 Tickets

Buy F1 tickets cheaper at F1-Fansite.com 2016 Formula 1 Season Early Booking Discounts are:
F1 Grand Prix
Discount

Book F1 Tickets Japanese F1 GP Japan '16Available
Book Now
Book F1 Tickets US F1 GP USA '16Available
Book Now
Book F1 Tickets Mexican F1 GP Mexico '16Available
Book Now
Book F1 Tickets Brazilian F1 GP Brazil '16Available
Book Now
Book F1 Tickets Abu Dhabi F1 GP Abu Dhabi '16Available
Book Now
Book F1 Tickets Australian F1 GP Australia '17AvialableBook Now
Book F1 Tickets Spanish F1 GP Spain '1720% discountBook Now
Book F1 Tickets Monaco F1 GP Monaco '17AvailableBook Now
Book F1 Tickets Austrian F1 GP Austria '1720% discountBook Now
Book F1 Tickets British F1 GP UK '17AvailableBook Now
Book F1 Tickets Hungarian F1 GP Hungary '1720% discountBook Now
Book F1 Tickets Belgian F1 GP Belgium '1725% discountBook Now

Polls

Who is your favourite F1 team?

View Results

Loading ... Loading ...
F1 Polls