Posted on July 2, 2012

[Updated 3rd July] Despite much talk and a lot of effort behind the scenes, the deadline for agreeing a new package of cost control rules for next season came and went on June 30. This date was important because it was the date by which things could be passed by a majority. After that unanimity would be needed. There is talk of extending the deadline to a new one of July 24th. But if the original deadline has passed, many are asking what force a new deadline will have. And now the teams and the FIA are in something of More…

Posted on June 12, 2012

Ferrari president Luca di Montezemolo has issued an call for F1 teams, the FIA and the governing body to come together urgently to resolve the issue of costs in the sport. With Europe teetering on the verge of a major financial crisis as the Euro is threatened by the Spanish debt situation, Montezemolo argues that the sport can no longer talk around the subject, but must put a plan in place. The failure to agree an extended Resource Restriction Agreement was the reason why FOTA fell apart last Christmas when Ferrari and Red Bull withdrew taking Toro Rosso and Sauber More…

Posted on November 17, 2011

The leading F1 teams are in the thick of an argument at the moment about how much money they should be allowed to spend every year to go racing, with Red Bull out on a limb, taking a different view from other FOTA members about the next phase of the Resource Restriction Agreement. If it all goes wrong, as some predict, this could lead to a new arms race in F1 with Red Bull, Ferrari and Mercedes able to spend more than McLaren (which no longer has Mercedes factory backing as it did in the last “Arms Race”) and far More…

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