Date:02/11/2008 URL: http://www.thehindu.com/2008/11/02/stories/2008110260981700.htm

Sport - Racing : Motor

Cost cutting is F-1 teams’ priority

SAO PAULO (Brazil): Formula One teams reiterated on Friday that cost-cutting is a priority and they are united to find a solution to help the series amid the global financial crisis.

“We are working to the same objective which is cost reduction,” the McLaren Team Principal, Ron Dennis, said. “We think the teams are best equipped to put forward proposals. Our objectives are completely aligned.”

This month, F-1’s governing body reached a deal with the new Formula One Teams Association (FOTA) to try to cut costs in the series.

“This is a top priority for FOTA,” the BMW Motor Sport Director, Mario Theissen, said. “We are working quite hard and very constructive on preparing a proposal which will be supported by all the teams from the biggest to the smallest.”

As cost-cutting measures, FIA said this week it was moving forward with its plans to have a sole engine and transmission supplier beginning in 2010. The teams said the solutions need to come in a package, and that they will not be blind to the spirit and the essence of F-1. — AP