Mosley Calls the Teams for a Meeting on Costs

FIA president Max Mosley has called all Formula One teams to a meeting next month, in order to discuss ways to cut down the costs of participating in Formula One.

The meeting is set for January 28th and Mosley hopes for a productive discussion that will find the means to sharply reduce costs in the medium and long term.

"If we do not do something this year, we will have the same crisis in 2006 and we won't get 10 entries," Mosley was quoted as saying in the Daily Telegraph. "This sport desperately needs new blood. We need to attract new teams. We have attended to safety as much as we can for next year. Now we must urgently look at costs.

"This business could be profitable, with teams queuing up to take part. Yet what we have is millions spent on silly things that people in the grandstands neither see nor care about.

"Why do teams need 100 people working on electronics? It takes 1,000 people to put two cars on the grid. If anyone thinks that does not need sorting out they don't know what they are talking about."