Formula One news
Mercedes develops budget cap proposal
28 May 2009Mercedes' Norbert Haug has developed a possible solution to the ongoing budget cap row as Friday's entry deadline for the 2010 championship looms ever closer. The German manufacturer has put its suggestions forward to the FIA which, in-turn, is contacting all teams for consideration of the 'Mercedes Initiative'.
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With Toyota, Red Bull, Renault and Ferrari having threatened to walk away from the sport and with no official agreement announced between the Formula One Teams' Association (FOTA) and F1 governing body the FIA, the Mercedes-Benz Motorsport vice president put his last-minute idea forward to FIA president Max Mosley.
The 'Mercedes Initiative', contrived by Haug, would involve the following:
- a £100m budget cap for 2010
- in exchange for this, teams must offer assistance to new entrants, such as providing cheaper components and sharing technical advice
- teams must commit to the sport until the end of the 2012 season
- from the start of 2011, the £40m budget cap will be in place
With time running out for teams to make a decision with regards to entering next year's World Championship, the scheme - if put forward at the last moment - would see the current £40m spending limit put back by a year with a significantly higher amount of £100m being allowed for next season. The plan, first mentioned in Monaco's meetings last weekend, has been described to The Times by a source close to Mercedes as 'clarity and certainty'.
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