F1, Formula 1, NASCAR, IndyCar, MotoGP, ALMS, And More!
z


Apr 20, 2014 - 02:58 AM
Top News!
Rumors Edition!
Upcoming Racing! (Updated)



Top Stories
· 2014 Chinese (Shanghai) GP: Formula One F1 Starting Line-up, Grid & Race Preview (Apr 19, 2014)
· 2014 Chinese GP: Formula One F1 Qualifying Results - Hamilton, Mercedes On Pole! (Apr 19, 2014)
· 2014 Chinese GP: Formula One F1 Practice Three Results - Ricciardo, Red Bull Fastest! (Apr 19, 2014)
· 2014 Chinese GP: Formula One F1 Practice Two Results - Hamilton, Mercedes Fastest! (Apr 18, 2014)
· 2014 Chinese GP: Formula One F1 Practice One Results - Alonso, Ferrari Fastest (Apr 18, 2014)

Previous Top Stories!


Hot Rumors!
· F1: Ferrari could turn hopes to 2015 season ? (Apr 17, 2014)
· F1: Early mistakes affected Schumacher outcome ? (Apr 17, 2014)
· F1: Mercedes to shed F1 staff ? (Apr 17, 2014)
· F1: Active suspension could return to F1 ? (Apr 16, 2014)
· F1: Smallest teams write 'explosive' letter ? (Apr 16, 2014)
More Rumors!


F1 set for cost-cutting summit on 1 May
Posted by: Admin on Apr 20, 2014 - 02:54 AM
Formula 1 News
F1 set for cost-cutting summit on 1 May


F1 will move to put cost-cutting efforts back on the agenda during a May 1 meeting.

Earlier, it was reported FIA president Jean Todt was considering new measures including reviving 'active suspension', after the new top team-dominated Strategy Group blocked his move to impose budget caps in 2015.


 

Bookmark and Share

A meeting for 1 May has now been called.

"Time is running out," Monisha Kaltenborn, whose Sauber team ran into high-profile financial strife last year, is quoted by the German news agency DPA.

"Actually, the time for this decision is long gone, but it's never too late," the Swiss team's boss added.

F1's smaller teams are angry that their more powerful rivals are thwarting moves to reduce spiralling costs, and reportedly threatening to challenge the Strategy Group against European competition laws.

"It's not about small or big teams," insisted Force India chief Bob Fernley, "it's about the future of formula one."

World champion team Red Bull's Christian Horner, however, insists the biggest teams are not opposed to reducing costs.

"We need to identify the cost drivers and equalise the playing field for everyone," he said.

Horner argues, however, that a budget cap was not the right solution.

"How would a budget limit of $200 million help Sauber? They wouldn't save a single dollar," he claimed.

A key meeting, to be presided over by Todt and Bernie Ecclestone, will now take place on May 1, between the Chinese and Spanish grand prix.

"Hopefully we will find some solutions, and it's not another of those meetings where we do not make a lot of progress," Kaltenborn concluded.



PaddockTalk Perspective



Also in Formula 1 News:



 
Related links
· F1 Edition
· PaddockTalk Top News
· F1 Rumors
· More about Formula 1 News







Home :: _ 


All logos and trademarks in this site are property of their respective owner.
The comments are property of their posters, all the rest (c) 2003-2014 by PaddockTalk.com.
Contact E-mail: admin@paddocktalk.com
Privacy