Formula One news

FIA unveils low-cost F1 2008 plans

Max Mosley

The FIA has unveiled plans for Formula One from 2008 onwards which are designed to make the sport more affordable and aims to allow an independent team to compete successfully on a budget of $100million a year.

The sport's governing body will push ahead with the introduction of the new double rear wing, rev-limited engines and the introduction of standard computer/engine management units and wider slick tyres.
"The real argument in Formula One is not about sports governance or even about how much money FOM gives the teams, it's all about costs," said FIA president Max Mosley. "The World Championship must remain financially viable for independent teams. Against this, two (possibly three) manufacturers want to win by spending unlimited amounts of money. This approach has caused great damage to motor sport, most recently to IRL in America. We don't want it in F1. One manufacturer is spending a sum greater than half its total annual dividend. This is unsustainable and sooner or later the shareholders will notice."

more news

• 07 Jan.
  • Ecclestone reveals September deadline for Donington
  • Ferrari willing to supply 'Honda' with engines
  • Brawn says Honda won't test before season
• 06 Jan.
  • Ferrari to use electronic pitstop system in 2009
  • Kubica to start karting team
  • Webber's recovery going well
  • Ferrari to reveal new car next week
  • Stewart hits out at Ecclestone and Mosley
• 05 Jan.
  • Red Bull's RB5 to debut in February
  • Suspended sentence and fine for Verstappen
  • Berger confirms Buemi for STR
• 04 Jan.
  • Kubica expecting more accidents
• 03 Jan.
  • Encouraging news for Donington
• 02 Jan.
  • Di Resta still hopeful of F1 drive
  • "Title loss would have damaged Hamilton's reputation"
• 01 Jan.
  • Hakkinen supports medals system
• 31 Dec. '08
  • Kubica: Next year is a big challenge
  • Hakkinen: Vettel will soon be a Formula 1 champion
  • Hamilton receives MBE award
  • Heidfeld expects more accidents in 2009
• 30 Dec. '08
  • Hamilton to join Madame Tussauds
  • Ecclestone: Button should take a sabbatical
  • Manager: Alonso would love to join Ferrari one day
  • Changes at Toro Rosso
• 29 Dec. '08
  • Hamilton to miss victory parade in Woking
  • Alonso to join Ferrari in 2011?
  • Mexican billionaire denies Honda bid
• 28 Dec. '08
  • Mexican buyer for Honda?
• 27 Dec. '08
  • F1 drivers positive on Algarve circuit
• 26 Dec. '08
  • Montezemolo says KERS introduction is a mistake
• 25 Dec. '08
  • Season's greetings from GPUpdate.net
• 24 Dec. '08
  • Massa against proposed pay cut
  • Ferrari undecided over Schumacher future
  • Karthikeyan not interested in joining Force India
  • Mosley: Finding a successor won't be easy
  • Ecclestone won't split teams - Howett
  • Mosley may still try to continue
• 23 Dec. '08
  • WSR team Draco teams up with Force India
  • Howett: Ecclestone not able to split FOTA
  • Toyota committed to Formula 1

Homepage