Putting Your Foot Down

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After negotiations with FOTA on reaching an agreement on financial restrictions for 2010, the FIA have decided that the 45 million euro budget cap would be in effect for 2010.

Member teams of FOTA threatened to pull out of the 2010 campaign if that regulation stayed and form a breakaway series. All the teams competing this year have placed entries for 2010, and only 5 teams (Ferrari, Red Bull, Toro Rosso, Williams and Force India) have conditionally “agreed” to these regulations while 4 other teams, BMW, Brawn GP, Toyota and McLaren still have conditional entries and may still pull out and enter the FOTA breakaway if that were to happen.

Statement from the FIA:

As a result, the meeting could not achieve its purpose of comparing the FIA’s rules with the FOTA proposals with a view to finding a common position.

In default of a proper dialogue, the FOTA financial proposals were discussed but it became clear that these would not be capable of limiting the expenditure of a team which had the resources to outspend its competitors. Another financial arms race would then be inevitable.

The FIA Financial Regulations therefore remain as published.

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