No solution found in cost-cutting talks
No firm agreement has been found between Formula One's 11 teams after they met in London on Thursday to discuss money-saving proposals.
The teams met at Biggin Hill in the wake of the scrapping of the proposed cost cap, which had been set for 2015, following opposition from the six teams in the Strategy Group. The smaller teams were furious with that decision and have now reportedly been asked to come up with their own ideas for trimming the rising costs in F1.
The suggestion came from FIA president Jean Todt, originally in favour of the cost cap, in the hope the teams will have something to bring back in time for a meeting at the Monaco Grand Prix. A letter to Todt from the smaller teams last month reportedly threatened EU intervention on the issue.
But it appears a major revolt over cost has been avoided for the time being, though the smaller teams remain unconvinced about the benefit of the sporting and technical regulations being proposed. The Telegraph reports the four smallest teams, Sauber, Force India, Marussia and Caterham, all hope to push the agenda back in the direction of a cost cap.
All the teams on the grid agree something needs to be done about the issue, though the six teams in the Strategy Group - Red Bull, Ferrari, Mercedes, McLaren, Lotus and Williams - disagree with the smaller outfits that a cost cap is the way forward.
A solution may become increasingly difficult to find as the season progresses. Overall approval for future rule changes will be made at the World Motorsport Council on June 26, after which unanimous consent would be needed from all teams to make further changes.