FOTA says crisis can be good for F1

The Formula One Teams' Association believes that it can turn the global ecnomic into an opportunity to give Formula One a stronger future for all parties involved

FOTA says crisis can be good for F1

FOTA unveiled its full proposals for F1 in a press conference in Geneva today, calling for a raft of changes to dramatically reduce budgets over the coming years, and to enhance both the level of entertainment in F1 and its presentation on television and in the media.

The plans include the immediate introduction of a new points system to increase the rewards for race winners, further substantial cost cuts through development restrictions and standardised parts, including KERS, and making additional data available to fans and television viewers.

The changes relating to the sporting regulations, such as the revised points, must be ratified by the FIA before they can be adopted.

McLaren chairman Ron Dennis said from a starting point of seeking to reduce costs, FOTA had put in place a framework that would allow F1 to not just survive, but grow.

"The initial objective was to address the issue of costs," he said. "We represent probably over 100 people who have been focused on this objective and we want to communicate to everybody that we are about going forward, taking this very difficult crisis as an opportunity and a challenge, and making F1 better for everybody.

"We have no enemies, nobody who is in F1 constitutes for us anything other than a player and a contributor. We are here to make F1 better and that is our clear intention."

FOTA chairman and Ferrari president Luca di Montezemolo believes that such sweeping changes, particularly in regards to cost cuts, could never have been achieved without the formation of the teams' body.

"In 2009 we have achieved the reduction of engine price, an important reduction of engine price, a reduction of testing, limitations in aerodynamic development activity, savings in a critical, critical year, so this year was the most important year to be approached in terms of strong cost reduction," he said.

"This would simply not have happened without FOTA and we are quite proud of this - again with unanimous agreement between the teams.

"Our goal is that we can have a budget saving from 2008 to 2010 of up to 50 percent. A 50 percent overall reduction in only two years. And we will work also on 2011 and 2012."

He said that along with the progress on cutting expenditure, increasing F1's profile had become an equally important priority for FOTA.

"We have done a lot of work, even in commitment to engage the audience, this is looking ahead," said di Montezemolo.

"The triangle is crucial, the collaboration is crucial with FIA and FOM to introduce current and future ideas to improve the sport, the show and the spectacle; to engage the audience through improved coverage in the sport, and, this is extremely important, to expand the use of new media. We see a lot of room to improve in that area and this is something we want to work very hard."

But he added that FOTA also needed to address the issue of how F1 revenues are shared now that the teams had delivered on their commitment to cut budgets.

"We have been extremely busy and determined to cut costs and now we have to work on the revenues for the future," di Montezemolo said.

"This is automatic in every company - the balance between cost and revenue to sustain the future for current teams, but also to give room and be attractive for new entrants."

shares
comments
Q & A with Luca di Montezemolo
Previous article

Q & A with Luca di Montezemolo

Next article

Heidfeld quickest as Jerez test ends

Heidfeld quickest as Jerez test ends
Load comments
Why thrilling Jeddah F1 circuit needs to be safer Plus

Why thrilling Jeddah F1 circuit needs to be safer

OPINION: Saudi Arabia's new F1 circuit delivered a memorable first event, although not necessarily for all the right reasons. In the wake of the chaotic race, drivers voiced their concerns about the track but small changes could make significant improvements ahead of a return in four months

The long-term F1 vision causing Haas’s short-term pain Plus

The long-term F1 vision causing Haas’s short-term pain

From ranking as one of the most impressive new teams to join the Formula 1 grid, Haas’s stock has plummeted along with its on-track performances over the past two seasons. Everything now hangs on whether its reforged alliance with Ferrari can deliver a better car – and whether its rookie drivers can set aside their quarrels. OLEG KARPOV asks if any of these goals are achievable…

The line Verstappen finally crossed in F1's first Jeddah race Plus

The line Verstappen finally crossed in F1's first Jeddah race

OPINION: Max Verstappen has made the 2021 Formula 1 championship. He’s taken the fight to the all-conquering Mercedes squad and its dominant champion, produced driving displays few can match. But he’s been on a controversial course too, and finally crossed a particular line in Jeddah

Formula 1
Dec 7, 2021
Saudi Arabian Grand Prix Driver Ratings Plus

Saudi Arabian Grand Prix Driver Ratings

An ill-tempered Saudi Grand Prix made Formula 1 more soap opera than sporting spectacle at times, but there were some strong performances up and down the field on the world championship's first visit to Jeddah

Formula 1
Dec 6, 2021
How the Jeddah F1 race became a one-sitting Netflix drama series Plus

How the Jeddah F1 race became a one-sitting Netflix drama series

The inaugural Saudi Arabian Grand Prix was a race packed full of incident as Formula 1 2021's title contenders repeatedly clashed on track. Lewis Hamilton won out over Max Verstappen to level the scores heading into next weekend's Abu Dhabi finale, as Jeddah turned F1 into a drama series

Formula 1
Dec 6, 2021
The impressive attitude that earned Albon his second F1 chance Plus

The impressive attitude that earned Albon his second F1 chance

Dropped by Red Bull last season, Alexander Albon has fought back into a Formula 1 seat with Williams. ALEX KALINAUCKAS explains what Albon has done to earn the place soon to be vacated by the highly rated George Russell

Formula 1
Dec 5, 2021
How Formula E factors could negate Red Bull's Jeddah practice gap to Mercedes Plus

How Formula E factors could negate Red Bull's Jeddah practice gap to Mercedes

Mercedes led the way in practice for Formula 1’s first race in Jeddah, where Red Bull was off the pace on both single-lap and long runs. But, if Max Verstappen can reverse the results on Saturday, factors familiar in motorsport’s main electric single-seater category could be decisive in another close battle with Lewis Hamilton

Formula 1
Dec 3, 2021
Why Norris doesn’t expect Mr Nice Guy praise for much longer Plus

Why Norris doesn’t expect Mr Nice Guy praise for much longer

Earning praise from rivals has been a welcome sign that Lando Norris is becoming established among Formula 1's elite. But the McLaren driver is confident that his team's upward curve can put him in the mix to contend for titles in the future, when he's hoping the compliments will be replaced by being deemed an equal adversary

Formula 1
Dec 2, 2021