The FIA has announced that it is imposing a £40 million budget cap for the 2010 F1 season. Teams will be encouraged to adopt the voluntary spending limit in return for fewer technological regulations.
Cost-capped teams will be permitted extra design freedoms, including unlimited revs and adjustable aerodynamic wings that will help them compete with uncapped teams. Conforming teams will also be granted unlimited off-season testing and will be able to work under revised wind-tunnel rules.
Read Alan Henry's blog on the F1 budget cap
The benefits may even be inviting to Ferrari, which fiercely objected to a £30 million cap initially proposed in March.
The higher limit was discussed in Paris yesterday at a meeting of the World Motor Sport Council (WMSC). The £40 million figure must cover all team expenditure, excluding drivers’ salaries, FIA fines and spending on marketing and hospitality.
“I suspect when they see the figures everybody will come in under the cost cut, which will come in straight away,” said FIA president Max Mosley. “I certainly hope so.”
The WMSC also introduced other changes for 2010 including six new grid positions that, coupled with lower running costs, have attracted interest from big-name possible entrants. Most notably, Aston Martin looks ready to make a serious entry to Formula One. Chairman David Richards has been in Qatar outlining his plans to potential investors. “We are very serious about entering Formula One in 2010,” said Richards.
The Formula One Teams Association will meet on 6 May to discuss the plans.
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