All But Ferrari Sign Agreement for Change in F1

Nine of the ten Formula One teams released a statement today, signed by all teams but Ferrari, titled "Teams Present Initiative for Substantial and Tangible Cost Savings in Formula One".

Below is the full statement made by the teams:

Background

Following recent developments within Formula One, the teams over the course of the last two days took part in a series of meetings at the Brazilian Grand Prix, chaired by Bernie Ecclestone. The Friday meetings - attended by representatives of all teams, including Ferrari - discussed the fact that the time has come for positive and decisive action that will benefit the sport.

The Saturday morning meeting, at which all teams except Ferrari were represented, agreed on the measures outlined below, which will substantially and tangibly reduce - in both the short and long terms - the teams' costs and significantly enhance the spectacle of the sport.

At the meeting, Mr. Ecclestone proposed a 19-race calendar, which included the French and British Grands Prix as the 18th and 19th races respectively. The attending teams agreed that if the significant cost-saving measures outlined below could be instituted by 2005, the French and British Grands Prix would proceed.

The proposal agreed by the undersigned teams are as follows:

Tyres

In respect of tyres, Mr. Ecclestone agreed on behalf of the undersigned teams to progress the matter further with the tyre manufacturers and in particular to seek their assistance to eliminate the majority, if not all requirements for tyre testing.

Testing

The undersigned teams have further agreed to significantly reduce the amount of testing that takes place in the course of the season. Under this proposal, the Friday format will consist of two, 2-hour free practice sessions. The proposal will also include a limitation of 10 testing days during the course of the Formula One season.

While the above measures represent a significant step forward, we, the undersigned teams, feel this is only the first move towards achieving a goal of reducing the necessity to spend enormous sums of money in order to be competitive in Formula One.

Conclusion

Such a course of action will ensure the continuing long term health of the sport and its participants. In order to bring these measures into force for the 2005 season, unanimous agreement is required. This is something that is hoped can be achieved over the coming weeks.

The above document was signed by representatives of Williams, McLaren, Renault, BAR, Sauber, Jaguar, Toyota, Jordan, Minardi, as well as Ecclestone. For more details, see earlier report in The Daily Grapevine