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."

Previous article
Mercedes plays down fears of gearbox penalty for Michael Schumacher
Next article
McLaren calm about Lewis Hamilton-to-Mercedes speculation

About this article
Series | Formula 1 |
Author | Michele Lostia |
FIA president Jean Todt says F1 must cut costs by one-third by 2015
Trending
Starting Grid for the Emilia-Romagna Grand Prix
F1 Fast Facts: Emilia Romagna Grand Prix
The back-bedroom world-beater that began a new F1 era
The first in a line of world beaters was designed in a back bedroom and then constructed in a shed. STUART CODLING recalls the Tyrrell 001
The clues Hamilton’s F1 contract afterthought gives to his future
The Formula 1 world reacted with surprise when it learned Lewis Hamilton’s long-awaited new Mercedes deal guarantees his presence on the grid only until the end of 2021. Both parties claimed publicly they were happy with the arrangement but, asks MARK GALLAGHER, is there more to it than that?
How a harshly ejected Red Bull star has been hooked by racing again
Driver-turned-DJ Jaime Alguersuari lost his love for motorsport when he was booted out of Formula 1 just as he was starting to polish his rough edges. Having drifted from category to category then turned his back on racing altogether in 2015, he’s come full circle and is planning a return in karts for fun
Why Mercedes isn't confident it's really ahead of Red Bull at Imola
While Mercedes struck back against Red Bull by topping the times at Imola on Friday ahead of the Emilia Romagna Grand Prix, the overall picture remains incredibly close. Despite having a possible edge this weekend, the reigning Formula 1 world champion squad is not taking anything for granted...
What Mercedes must do to keep its F1 title challenge on track
Mercedes may find itself leading the drivers' and constructors' standings after Lewis Hamilton's victory in the Bahrain Grand Prix, but it is well-aware that it came against the odds, with Red Bull clearly ahead on pace. Here's what the Brackley team must do to avoid its crown slipping
Why Tsunoda can become Japan’s greatest F1 talent
While Japan's fever for motor racing is well-documented, the country has yet to produce a Formula 1 superstar – but that could be about to change, says BEN EDWARDS
Why the demise of F1's hypocritical spending habit is cause for celebration
For too long, F1's richest teams have justified being able to spend as much as they want because that's the way they've always conducted their business. STUART CODLING says that's no reason not to kick a bad habit
The double whammy that is defining Vettel’s F1 fate
It's been a tough start to Sebastian Vettel's Aston Martin F1 career, with a lack of pre-season testing mileage followed by an incident-packed Bahrain GP. But two key underlying factors mean a turnaround is not guaranteed