Stoddart Calls for Unity to Reduce Costs

Minardi boss Paul Stoddart has warned that unless all Formula One teams agree on ways to reduce the costs, the sport's future will continue to be in danger.

"I think there are ways we could cut costs in Formula One but if we don't address them as one voice, one group, then it simply won't happen," said Stoddart in a press conference ahead of the Austrian Grand Prix on Thursday.

The smaller Formula One teams like Minardi are struggling as sponsorship continues to fall off due to the difficult current financial situation, and the prospect of being competitive without the support of a big car manufacturer is unlikely as the bigger teams continue to spend millions in developing and testing.

Jordan Grand Prix, like Minardi an entrepreneurial team, fired up to 15 percent of their staff recently in the hope of reducing costs and be able to cope with the difficult situation.

Team bosses are expected to meet with Formula One supremo Bernie Ecclestone during this weekend's Austrian Grand Prix in order to discuss ways of reducing the costs, but Stoddart is still unconvinced that the talks will actually lead somewhere.

"I think a lot's been said about it, but whether anything's going to be done about it remains to be seen," he said. "I think it's fair to say that some of the bigger teams have been very supportive towards cost cutting and some of them don't seem to be terribly concerned at all and of course we need unanimous agreement to actually achieve anything.

"So sadly, if ever we get to the day when there are only six teams running, it will be like closing the gate after the horse has bolted."