F1 Chiefs to Seek Resolution to Budget-Cap Crisis Today

F1 Chiefs to Seek Resolution to Budget-Cap Crisis Today

F1 Chiefs to Seek Resolution to Budget-Cap Crisis Today

Toyota


Formula 1 team chiefs will meet again in London on Wednesday to plot their next move as negotiations over the future of the sport continue.

In Monaco, the teams told governing body the FIA they would commit until 2012 if president Max Mosley scrapped his controversial rules for 2010.

In a letter to the teams on Tuesday, Mosley reiterated his calls for them to agree a curb on budgets of about £40m.

Teams have until Friday to submit their entries for the 2010 season.

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A resolution is still some way off but it is hoped Wednesday’s meeting will help determine whether all the 10 teams currently on the grid will stay in the sport. BBC Sport

Williams have become the third team to lodge paperwork regarding an entry while there are hopes that amendments to the planned £30 million cap - such as phasing it in over a period of time or a straight delay - could see other major teams abandon their plans to quit.

McLaren, Brawn GP and Force India are thought to be preparing their entries whatever the outcome of the meeting.

Unlike the car and energy drink makers, the pure racing teams are thought to be unwilling to miss the deadline and risk being locked out of the theatre of their core business. Yahoo! Eurosport

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