Ferrari chief Arrivabene says Formula 1 must be more affordable

The cost of competing in Formula 1 has been high on the agenda after Caterham and Marussia went into administration towards the end of last season.

Marussia required a last-minute rescue package to survive and now run as Manor, while teams including Force India asked F1 boss Bernie Ecclestone for support with their finances before Australia.

Force India deputy team principal Bob Fernley has repeatedly called for a reduction of costs so that independent teams can survive while making the sport more attractive to new entrants.

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And although Ferrari is among the wealthiest teams on the grid, Arrivabene agrees that something needs to be done.

He insists the situation is being looked at with sufficient seriousness.

"We have to do our best to make Formula 1 a bit more affordable," Arrivabene told AUTOSPORT.

"I have to say it is a work in progress at the moment and everybody - they are really committed."

One of the suggestions to reduce costs is for teams to run a standardised car, but Arrivabene believes that is a step too far.

"I think that was one of the proposals on the agenda," he said. "You know, sometimes somebody starts from an extreme, which is something else.

"Standardisation in certain parts of the car could be an interesting cost saving way. Of course, not in all of the parts in the car.

"We are Formula 1, not another series where all the cars look the same and there is no spectacle."