Vital Login
Social Login

Other Sites

Network Navigation

Vital Partners

'If It's F1, It's Vital'

Cost cutting agreement edges nearer

When Luca Di Montezemolo, president of Ferrari, calls for Formula one to implement a cost cutting scheme, the world of Motorsport listens.

Ferrari, a team of limitless funds, have only Red Bull and Mercedes for financial competition at the top of sport, but now with the current Eurozone crisis, Formula One needs to take immediate action and the cost cutting discussions arent going away any time soon.

From next season it is likely that the sport will gave cost control rules embedded into the sport for the first time in its rich history, focusing mainly on the control over car design costs.

Despite the recent economic catastrophe which has cast its shadow over Europe for the past four years, the twelve teams are concerned about the costs of the sport during a global economic crisis.

Details of the impending agreement, due to be announced on June 30th, are still unclear but are likely to impose a restriction on the way teams spend their money despite them already working to a Resource Restriction Agreement. However controversy is never far away in Formula One, and naturally teams are falling out over accusations that others are breaching its terms.

Ferrari may have been hit hard by the disastrous economic situation in both Italy and Spain, home of the teams main sponsor, Santander Bank. But many believe this to be a ploy from the cunning President to stop 2014s controversial engine changes, or even to prove his political worth.

The governing body of the sport, the FIA, are pushing hard for new 1.6 litre v6 turbo charged engines, taking the place of the current 2.4 v8s. These engines will bizarrely cost more money, making you wonder why the FIA are going ahead with them. There not going to make the slightest difference to the green effect of the sport.

If you take into account the amount of travel the sport demands taking all their equipment around the world, the matter of the engines is a drop in the ocean. The 2014 package will be more expensive, much to the dismay of supremo Bernie Ecclestone who has labelled the change as a PR stunt.

As far as cost cutting goes, the teams are unanimous behind the decision to include it from now on. As we enter times of economic uncertainties, specifically in Europe, Formula One needs to secure its long term future by taking sensible measures that wont damage the high levels of sport, while maintaining a sustainable future. All will be revealed on June 30th.








Join Vital F1

It's easy to join up and join in on VitalF1.com, simply click the link and enjoy getting involved!

If you are already a member of Vital Football, your logins will automatically work on VitalF1.com!

The Journalist

Writer: Charlie Bennett  Mail feedback, articles or suggestions

Date:Monday June 18 2012

Time: 2:00PM

Your Comments

Funny how Luca now wants to cut costs. Is it anything to do with the main FIAT factory being on short time, costs should have been trimmed years ago, but the big teams did not want this.
johnkelv
 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Vital F1 Articles

Rosberg finally takes responsibility (Monday September 1 2014)

Ferrari boss attempts to buy time (Monday September 1 2014)

Williams must improve (Friday August 29 2014)

Ricciardo is a championship contender (Wednesday August 27 2014)

Rosberg refuses to comment (Tuesday August 26 2014)

Blog: Belgian GP Report (Tuesday August 26 2014)

Crash was deliberate claims Hamilton (Monday August 25 2014)

Finger of blame pointed at Rosberg (Monday August 25 2014)

2014 - Belgium - Race (Sunday August 24 2014)

Blog: Spa Qualifying (Sunday August 24 2014)

2014 - Belgium - Qualifying (Saturday August 23 2014)

2014 - Belgium - FP3 (Saturday August 23 2014)

2014 - Belgium - FP2 (Friday August 22 2014)

2014 - Belgium - FP1 (Friday August 22 2014)

Chilton to race in Spa (Friday August 22 2014)

Russia is ready (Thursday August 21 2014)

Kobayashi dropped by Caterham (Thursday August 21 2014)

Ferrari lucky to have 2 great champions (Wednesday August 20 2014)

Introducing Max Verstappen (Tuesday August 19 2014)

2014 Ferrari doesn't suit Kimi (Tuesday August 19 2014)

Who will win the Belgian Grand Prix? (Monday August 18 2014)

New Ground For Mercedes (Monday August 18 2014)

Lowe rejects Newey claim (Friday August 15 2014)

Kimi targets race wins in 2015 (Tuesday August 12 2014)

Grosjean uncertain over future (Monday August 11 2014)

Blog: Time for Bernie to go (Thursday August 7 2014)

Nico didn't get close enough - Wolff (Wednesday August 6 2014)

New deal for Australia (Monday August 4 2014)

Luck will turn for Vettel (Monday August 4 2014)

Newey critical of 'GP1' era (Friday August 1 2014)

McLaren made catastrophic error (Friday August 1 2014)

Ericsson and Perez ok after crashes (Wednesday July 30 2014)

Blog: Hungarian GP Report (Tuesday July 29 2014)

Lauda backing for Hamilton (Monday July 28 2014)

2014 - Hungary - Race (Sunday July 27 2014)

Blog: Hungaroing Qualifying (Sunday July 27 2014)

2014 - Hungary - Qualifying (Saturday July 26 2014)

2014 - Hungary - FP3 (Saturday July 26 2014)

2014 - Hungary - FP2 (Friday July 25 2014)

2014 - Hungary - FP1 (Friday July 25 2014)

Could F1 pull Russian Grand Prix? (Thursday July 24 2014)

F1 return to Mexico confirmed (Thursday July 24 2014)

McLaren and Mercedes target Vettel (Thursday July 24 2014)

Wolff predicts Abu Dhabi showdown (Wednesday July 23 2014)

Who will win in Hungary? (Tuesday July 22 2014)

Blog: German GP Report (Tuesday July 22 2014)

Alonso loved Ricciardo tussle (Monday July 21 2014)

Button backtracks (Monday July 21 2014)

What a week for Rosberg (Monday July 21 2014)

2014 - Germany - Race (Sunday July 20 2014)

Blog: Hockenheim Qualifying (Sunday July 20 2014)

2014 - Germany - Qualifying (Saturday July 19 2014)

2014 - Germany - FP3 (Saturday July 19 2014)

2014 - Germany - FP2 (Friday July 18 2014)

2014 - Germany - FP1 (Friday July 18 2014)

Mercedes play down FRIC ban (Friday July 18 2014)

F1 title chase starts now (Wednesday July 16 2014)

McLaren confident in upgrades (Tuesday July 15 2014)

Bianchi impresses for Ferrari (Thursday July 10 2014)

Massa quickest at Silverstone test (Wednesday July 9 2014)

Rosberg plays down Hamilton row (Wednesday July 9 2014)

Bottas finish surprises Williams (Tuesday July 8 2014)

Archived Vital F1 Articles

List All Vital F1 Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. Red5 1018
2. DJ 881
3. The Fear 771
4. Villaininthemerde 612
5. johnkelv 569
6. Druss_the_Legend 519
7. Push The Button 432
8. col8 334
9. The Intimidator 147
10. __villa__ 145

Current Site Poll (view all polls)

Should Rosberg face a penalty for failing to avoid Hamilton collision?
Yes - He has confessed! 77%
No 23%