FIA president Jean Todt says F1 must cut costs by one-third by 2015
Formula 1 needs to reduce its costs by one-third by the end of 2015 if the sport is not to lose a number of teams
That is the view of FIA president Jean Todt, who thinks that a drive to reduce expenditure that was begun by his predecessor Max Mosley needs to continue.
"Costs are my main objective, because they must be lowered by a further 30 per cent in the next three years, otherwise we'll lose several teams," Todt said in an interview with .
"Formula 1 must be a business for everyone with balances in the black for the teams. Nowadays [that is] so for only two or three teams perhaps.
"But we are getting to a conclusion with the Concorde Agreement, after tense discussions and common objectives.
", we'll take a step forward towards the world we predict we'll live in.
"And maybe I'll manage to convince several engine manufacturers who are now in endurance racing or elsewhere into building engines for F1 too: Audi, Toyota, Porsche, the Koreans..."
Todt believes that fears that Mercedes could leave the sport have now been eased, with its team principal Ross Brawn also saying at Monza that he expected a deal to commit the German car manufacturer to F1 to now be imminent.
When asked about the possibility of Mercedes quitting, Todt said: "I don't think so. But we must do everything to keep it. Besides, it's just at the beginnings with being a global constructor."
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