Tuesday, 26 May 2009

F1 Budget Cap Latest - Williams Confirm 2010 Entry

FOTA, (The Formula 1 Teams Association) has upped the ante in their dispute with the FIA by again calling for the proposed 2010 £40m budget cap to be revoked as a pre-condition of their continuing to participate in the Championship.

Following several meetings at the Monaco Grand Prix last weekend, FIA president Max Mosley indicated that agreement on a budget cap was close, although he did admit that it may not come into effect until 2011.

The view of FOTA is that they are best placed to decide on and implement any necessary cost cutting exercises rather than having them forced upon them by the FIA.

The deadline for entries to the 2010 season is on Friday (29th May). Whilst all the teams are keen to maintain a united front in talks with Mosley, Williams F1 lodged their application for 2010 on Monday (25th May).
Williams stressed that it felt duty-bound to honour undertakings it had given to compete in F1 through to the end of 2010 but had no intention of leaving FOTA.

Mosley has initmated that the FIA may be willing to compromise over the implementation of the budget cap by treating 2010 as a transitional year with changes gradually fased in before coming into full effect in 2011.

It remains to be seen whether an agreement will be reached before the Friday deadline.

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