Today could turn out to be a day, which will stand out in the history books of Formula 1. At the FIA World Council meeting in Monaco some huge decisions will be taken, which reflect a sea change in attitude within the F1 teams compared to recent years and which will herald the start of a move towards a totally new F1 concept, certainly as far as engines are concerned.
Following the surprise withdrawal of Honda a week ago, a fresh mood of realism has finally crept in and the remaining nine teams met with FIA president Max Mosley on Wednesday and presented a package of proposals to drastically cut costs. All parties described the meeting as a ‘breakthrough’ and we wait with baited breath to see what shape our sport will take in the future.
The cornerstone of the proposal is a standard engine and drivetrain. Currently the costs of developing and producing the engine and gearbox are considered to be roughly half a Formula One operating budget for some teams, or £30 million per year. The FIA wants to remove the drivetrain as an area in which teams compete with each other, thus eliminating the need to spend such sums on it.
Under the plans before the World Council today, the standard engine will be supplied by Cosworth and the gearbox by Xtrac/Ricardo, costing around £5 million per season. It remains to be seen how many teams will sign up for this in 2010. Teams have the option of building their own engine but it must be to the exact Cosworth design and therefore equivalent in performance. I fancy that many of the big names will do this, including Ferrari. However, I’m told that one of the breakthroughs at the meeting on Wednesday was that this option has been made ‘sexier’, hence why the top names were happy to agree to it. We’ll see what that entails later today.
The idea behind the standard engine is simple – to calm down the excessive spending of recent times and get things under control. But the intention thereafter is to reintroduce competitive engines to a completely new design in 2013. These are likely to be turbocharged, probably V6 and the competition element will be reintroduced, probably based on fuel efficiency, rather than outright performance.