F1 teams reach new cost-saving deal

Formula 1 teams have made a major breakthrough to help reduce costs in the sport over the next few years after rubber-stamping a new Resource Restriction Agreement (RRA) in Singapore at the weekend, AUTOSPORT has learned

F1 teams reach new cost-saving deal

Teams had headed to Singapore fearing that the current RRA, which ran from last year until the end of next season, was on the brink of falling apart - amid suspicion that some outfits had found clever ways of getting around the agreed cost restraints.

High level sources suggested that if the suspicions could not be alleviated, and teams were unwilling to agree on interpretations on how their costs should be calculated, then there was a possibility the deal could fall apart completely and F1 would face another all-out spending war.

However, in a lengthy meeting in the Singapore paddock on Sunday, the Formula One Teams' Association (FOTA) made big progress in overcoming the difficulties and a provisional agreement was reached for a lengthy extension that will now run until the end of 2017.

Although the exact details of the extent of the new cost restrictions have not been released, it is understood that there is an easing of the aggression of the costs cuts after some teams felt the cost cuts were getting too restrictive.

When asked by AUTOSPORT how the RRA discussions had gone, FOTA chairman Martin Whitmarsh said: "We made fantastic progress actually.

"I think the teams have worked together and found great compromise and, during the course of the meeting, we signed an extension that puts sevens year on the Resource Restriction Agreement, which further stabilises the sport."

Renault team principal Eric Boullier told AUTOSPORT: "I am very delighted that we have done such a move, because it is a success for FOTA and finally we could sign something, instead of the meetings just being a forum.

"The decision taken last year [with the original RRA] was maybe in a special context with manufacturers threatening to break away for another championship. The RRA in its old version could even have damaged the sport by being too radical and I was keen to change the slope and extending it - and why not? We know we have to enter into a transition period. Everyone has done a reasonable job and I am happy we have signed this agreement."

Amid the background of suspicions in the build-up to the Singapore weekend that teams were getting around the RRA. Whitmarsh believes the new framework had also helped clear up potential loop holes.

"We signed a heads of agreement which has gone a long way to improving it, extending the RRA, making further reductions and closing the known loopholes. And there is an obligation within the agreement that if anyone knows of a loophole, or subsequently learn of them, that they declare it now or do something about it.

"I think it was a good step forward in terms of trying to manage the resources in F1 and trying to create stability, and an improvement on that approach.

"It took compromise from all of the F1 teams to achieve that and I think a week ago not many people would have predicted that we would have been able to achieve that.

"So all credit to the F1 teams for being very sensible, co-operative and working with a spirit that was so important to get such an agreement in place."

shares
comments
Renault willing to meet with Raikkonen

Previous article

Renault willing to meet with Raikkonen

Next article

McLaren: Hamilton will bounce back

McLaren: Hamilton will bounce back
Load comments
The final throes of Brazil's fleetingly successful F1 team Plus

The final throes of Brazil's fleetingly successful F1 team

Emerson Fittipaldi is better remembered for his Formula 1 world championships and Indianapolis 500 successes than for the spell running his eponymous F1 team. Despite a hugely talented roll call of staff, it was a period of internal strife, limited funding and few results - as remembered by Autosport's technical consultant

Why McLaren's expanding agenda will benefit its F1 resurgence Plus

Why McLaren's expanding agenda will benefit its F1 resurgence

In the 1960s and 1970s, McLaren juggled works entries in F1, sportscars and the Indy 500 while building cars for F3 and F2. Now it’s returning to its roots, expanding 
into IndyCars and Extreme E while continuing its F1 renaissance. There’s talk of Formula E and WEC entries too. But is this all too much, too soon? STUART CODLING talks to the man in charge

Formula 1
Oct 17, 2021
How Tsunoda plans to achieve his F1 potential Plus

How Tsunoda plans to achieve his F1 potential

Yuki Tsunoda arrived in grand prix racing amid a whirlwind of hype, which only increased after his first race impressed the biggest wigs in Formula 1. His road since has been rocky and crash-filled, and OLEG KARPOV asks why Red Bull maintains faith in a driver who admits he isn’t really that big a fan of F1?

Formula 1
Oct 15, 2021
The danger of reading too much into F1's clickbait radio messages Plus

The danger of reading too much into F1's clickbait radio messages

OPINION: After Lewis Hamilton responded to reports labelling him 'furious' with Mercedes following his heated exchanges over team radio during the Russian Grand Prix, it provided a snapshot on how Formula 1 broadcasting radio snippets can both illuminate and misrepresent the true situation

Formula 1
Oct 14, 2021
Why F1’s approach to pole winners with grid penalties undermines drivers Plus

Why F1’s approach to pole winners with grid penalties undermines drivers

OPINION: Valtteri Bottas is credited with pole position for the 2021 Turkish Grand Prix, despite being beaten in qualifying. This is another example of Formula 1 and the FIA scoring an own goal by forgetting what makes motorsport magic, with the Istanbul race winner also a victim of this in the championship’s recent history

Formula 1
Oct 13, 2021
Turkish Grand Prix Driver Ratings Plus

Turkish Grand Prix Driver Ratings

On a day that the number two Mercedes enjoyed a rare day in the sun, the Turkish Grand Prix produced several standout drives - not least from a driver who has hit a purple patch of late

Formula 1
Oct 11, 2021
The hidden factors that thwarted Hamilton's bid for shock Turkish GP glory Plus

The hidden factors that thwarted Hamilton's bid for shock Turkish GP glory

Starting 11th after his engine change grid penalty, Lewis Hamilton faced a tough task to repeat his Turkish Grand Prix heroics of 2020 - despite making strong early progress in the wet. Instead, his Mercedes team-mate Valtteri Bottas broke through for a first win of the year to mitigate Max Verstappen re-taking the points lead

Formula 1
Oct 11, 2021
How pitstops evolved into an F1 art form Plus

How pitstops evolved into an F1 art form

A Formula 1 pitstop is a rapid-fire blend of high technology and human performance. PAT SYMONDS describes how the science of margin gains makes stops so quick

Formula 1
Oct 10, 2021