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The principal ‘technical freedoms’ available to teams willing to adhere to Formula 1’s new stringent £40 million budget cap include movable front and rear wings, an engine that is not subject to a rev limit, unlimited out-of-season track testing and no restrictions on the scale and speed of wind tunnel testing, the FIA has announced.
Max Mosley’s proposal for an optional limit on what teams are able to spend over the course of a season – albeit £10 million greater than his original £30 million target – was formally approved by the governing body’s World Motor Sport Council (WMSC) today.
The idea is to enable competitors that choose to sign up to the initiative to compete on a budget that won’t break the bank – thereby in theory avoiding the threat of other teams following Honda out of the exit door against the backdrop of the current global credit crunch. Whilst the cap will not be compulsory, it is intended that only those who subscribe to it will benefit from the above perks, designed to guarantee the continuation of a level playing field. Yahoo!Eurosport
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Some teams spend three times that amount and McLaren chief Martin Whitmarsh is worried about the changes.
Whitmarsh said: “The best solution may or may not include a budget cap, but ideally would not encompass a two-tier regulatory framework.”
But Williams team boss Frank Williams said: “We have supported a budget cap since the idea was first put forward.” The Sun
One of the FIA’s key aims in introducing a £40m budget cap from 2010 is to entice more independent teams into the sport and bolster flagging grid sizes.
Amid serious expressions of interest from the US-based F1 project, Prodrive’s David Richards and British race car manufacturer Lola, the FIA has increased the maximum number of cars permitted to enter the championship to 26 – opening the way for three new teams to join the sport.
The FIA says applications to enter next year’s championship must be submitted by 29 May and the list of successful cars and drivers will be published on 12 June. ITV
Cost Cap Regulations
From 2010, all teams will have the option to compete with cars built and operated within a stringent cost cap.
The cost cap for 2010 will be £40m per annum*. This figure will cover all team expenditure except:
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Marketing and hospitality;
Remuneration for test or race drivers, including any young driver programmes;
Fines or penalties imposed by the FIA;
Engine costs (for 2010 only);
Any expenditure which the team can demonstrate has no influence on its performance in the Championship;
Dividends (including any tax thereon) paid from profits relating to participation in the Championship.
* For the purposes of these Regulations, the financial year is 1 January to 31 December.
