Jean Todt wants teams to discuss cost control in Formula 1
|By Jonathan Noble||Wednesday, November 7th 2012, 15:56 GMT|
FIA president Jean Todt wants Formula 1 teams to discuss a cost control plan for the future as soon as the new Concorde Agreement has been signed.
After months of discussions about the idea of the FIA getting involved in policing either a Resource Restriction Agreement or a budget cap, Todt says that he wants such a scenario to be decided through the new structures being put in place.
"We have to do things step by step," he told AUTOSPORT in an exclusive interview. "I am in favour of reducing the costs, improving the show, and implementing new technologies.
"So now we are seeing that we are on the way to having these working groups, advisory strategy group and the F1 Commission, and for me it has to be dealt with inside of those groups.
"As soon as we are able to do it, we will have a democratic way. No dictatorship. No pressure to do something.
"We will sit altogether and then we will do what the majority will decide on, which I feel is the most transparent way to run our business."
Earlier this season, 10 of the current 12 teams were in favour of the FIA policing a chassis RRA but Todt did not want to implement such a policy without unanimous support.
Looking to what will happen in the future, he suggests a complete chassis and engine RRA will be a better way forward, and he is convinced the FIA has the means to regulate it.
"It will be unfair to have a cost restriction on chassis and do nothing on the engine," he said.
"Our people have been working very hard with expert companies like Deloitte, KPMG, and other audit companies to see.
"First I had some doubts that we could do a good job. Now we know we can do a good job.
"But we have to include the engines. There are still some ongoing discussions.
"Once we have covered the engine situation, we should be ready to propose something by 2014. And by 2013 with our new groups, with the Concorde Agreement, we should be able to follow the protocol.
"So it should not be one team is against, one team is in favour. The majority will be able to guide the future of the sport."
Cost-cut target remains
Todt has reiterated that he wants to ultimately see costs reduced by one third over the next few years.
"How much do we want to control?" he said. "I hear $250 million. Who can afford $250 million?
"What is the situation for teams who are producing one engine? There are so many things I read which I am sorry to say are a bit superficial.
"We must get into the detail. Who is spending $250 million? Probably more than one team. But even if it is three or four, what about the other eight teams?
"We have to address the problem overall and I hope people will have the right concern to address it. At the end of the day, for me, democracy means that we must make shared decisions."
He added: "The teams invest money, but do we need to have 150 people or 200 people in a wind tunnel to have a good show? I don't think so.
"I really hope that people will be happy to realise and undertake some drastic reduction in costs."