Formula One (F1) agreed on a cost-cutting measure for 2009 as a response to the global economic crisis.
The world motorsport’s governing body FIA announced the said measures, with the given emphasis on saving engine costs, in Monte Carlo on Friday.
FIA President Max Mosley’s proposal for a standardized engine for 2010 season was not approved but the said measures will be enacted to ensure quality engines. Some of the measures that will be introduced are the limits on expensive testing, already-designed-and-made cheaper engines for F1’s smaller teams, a limited number of engines (eight engines) for each drivers, and a permit for the teams to use four engines for testing.
An estimate of $6.6 million will be handed to the official engine supplier or manufacturer for smaller independent temas in 2010. This assessment is said to definitely cut the current codt into half. F1 teams also arrived on an greement that there will be a reduction in manpower thorugh sharing information on tires and fuels, thus eliminating the need for ’spotters.’
“The teams have played a major role in these developments. The FIA is very grateful to FOTA (F1 team’s association) and to its president Luca Di Montezemolo for their incisive contribution,” FIA stated.
The FIA estimate the list of changes for 2009 will save the manufacturer teams approximately 30% of their budgets compared to 2008, with the savings for independent teams even greater. -CNN
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