The FIA World Council votes in favor of the budget cap
Max Mosley, president of the FIA, hinted that the World Motor Sport Council, meeting today, approved a slight increase in the budget per team. While awaiting the official disclosure of the Council’s decision, Mosley stated after the meeting that the £30 million (more than €33 million) budget cap was increased following consultation with the F1 […]
Max Mosley, president of the FIA, hinted that the World Motor Sport Council, meeting today, approved a slight increase in the budget per team.
While awaiting the official disclosure of the Council’s decision, Mosley stated after the meeting that the £30 million (more than €33 million) budget cap was increased following consultation with the F1 teams.
« Everything is going according to plan. It’s a little over 30 million, but we managed, » he said.
He added that this budget cap is crucial for maintaining the teams in the current crisis context. On the other hand, a number of new teams could make their entry into the sport.
« In the current economic conditions, one cannot survive in F1 without this budget cap. »
A number of teams have already expressed interest in joining F1 in 2010. This budget should help USF1, Prodrive, Lola, or iSport achieve their objectives.
The official statement is expected by the end of the day.
