F1 proceeding with budget capping - Mosley

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GMM April 29th, 2009 GMM

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December 31st, 1969 Apr.29 (GMM) Formula one will proceed with budget capping to be introduced next year, Max Mosley said after a meeting of the World Motor Sport Council on Wednesday. The FIA meeting was called for the McLaren 'lie-gate' affair, but the president of the Paris body took the opportunity also to put to the council his push to see spending limited as early as 2010. His originally proposed rule was for a two-tiered system, with some (small) teams capped at 33m euros but given more technical freedoms, while more technically-limited (big) teams are free to keep spending. "It's a little bit more than 30 million (now) but we have been successful," Mosley said, hinting that the cap will apply to all 2010 entrants. He told reporters in Paris that the detail will be published on Thursday.

Apr.29 (GMM) Formula one will proceed with budget capping to be introduced next year, Max Mosley said after a meeting of the World Motor Sport Council on Wednesday.

The FIA meeting was called for the McLaren 'lie-gate' affair, but the president of the Paris body took the opportunity also to put to the council his push to see spending limited as early as 2010.

His originally proposed rule was for a two-tiered system, with some (small) teams capped at 33m euros but given more technical freedoms, while more technically-limited (big) teams are free to keep spending.

"It's a little bit more than 30 million (now) but we have been successful," Mosley said, hinting that the cap will apply to all 2010 entrants.

He told reporters in Paris that the detail will be published on Thursday.

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Posted in: Formula One