The FIA is to employ radical cost-cutting measures in Formula One over the next five years in an attempt to save the sport from pricing itself out of existence, UK newspaper, The Times reports.
Documents obtained by the paper reveal that that a summit called by Max Mosley, the president of the FIA, with the ten team principals in Geneva next week will involve discussions on a range of radical new technical regulations designed to cut team budgets drastically and end the culture of “money no object” engine and chassis design.
Proposed measures include the introduction of standard engines from the beginning of the 2010 season, built by teams themselves at a fraction of present costs or produced by a single supplier or contractor as well as a second new engine regime to start in 2013. The latter will involve power trains (engine and gearbox) that incorporate heat and exhaust recovery systems and achieved at a development cost far lower than present budgets.
According to the documents, the only preconditions of the new 2013 engines are: “that the costs of development, maintenance and unit production for the power train must be an order of magnitude lower than is currently the case and (ii) power trains must be available to independent teams at minimal cost.” Cars will also be required to have a chassis with many more “common parts” and will include standard suspension systems, wheels and underbodies.
The paper reports that although the FIA confirmed last night that an agenda and position paper had been distributed to the Formula One Teams Association, a spokesman refused to comment on any of the details in advance of the Geneva meeting.
