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FIA agree budget caps could be introduced // A Financial Working Group will be set up for discussion

Published by Christine

FIA agree budget caps could be introduced
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I’m Christine and this is F1Minute for the 17th January 2008.

FIA President Max Mosley has written a letter to all the teams confirming that the wheels are in motion for a ruling to cap expenditure on almost everything, except for engines. A Financial Working Group is to be formed and they need to start coming up with some solid plans before June this year, otherwise the proposed and much stricter regulations will be introduced instead.

Despite persistent rumours, Toyota have denied that their sporting future is in doubt. Team Principal Tadashi Yamashina says that his previous statement about the two year deadline was misinterpreted and related to his appointment within the team rather than their entire presence in Formula 1. Toyota claim they are committed to F1 until 2012.

Mike Gascoyne has been discussing Force India’s driver lineup saying with Liuzzi in the wings the pressure is on the two main drivers to succeed. He commented that having Fisichella on board was a big step forward for the team, but his appointment beyond 2008 can only be based on performance and results.

That’s all for today, I’ll be back tomorrow with another F1Minute.