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 aren’t 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 2014’s 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 v8’s. 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 won’t 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

Blog: Malaysian GP Report (Monday March 30 2015)

2015 - Mal GP - Race (Sunday March 29 2015)

Blog: Sepang Qualifying (Saturday March 28 2015)

2015 - Mal GP - Qualifying (Saturday March 28 2015)

2015 - Mal GP - FP3 (Saturday March 28 2015)

2015 - Mal GP - FP2 (Friday March 27 2015)

2015 - Mal GP - FP1 (Friday March 27 2015)

Bottas to avoid surgery (Thursday March 26 2015)

Alonso clears up mystery crash (Thursday March 26 2015)

Alonso and Bottas cleared to drive (Thursday March 26 2015)

Blog: Sepang Preview (Wednesday March 25 2015)

New Hamilton deal all but agreed (Wednesday March 25 2015)

Bottas hopeful of return (Tuesday March 24 2015)

Alonso to travel to Malaysia (Monday March 23 2015)

Who will win in Malaysia? (Thursday March 19 2015)

2015 - Aus GP - Race result (Sunday March 15 2015)

Blog: Australian GP Report (Sunday March 15 2015)

Blog: Melbourne Qualifying (Saturday March 14 2015)

2015 - Aus GP - Qualifying result (Saturday March 14 2015)

2015 - Aus GP - FP3 result (Saturday March 14 2015)

Van der Garde drops Sauber dispute (Saturday March 14 2015)

Sauber boss could face prison (Friday March 13 2015)

2015 - Aus GP - FP2 result (Friday March 13 2015)

2015 - Aus GP - FP1 result (Friday March 13 2015)

Jordan to auction cars for charity (Thursday March 12 2015)

Blog: Melbourne Preview (Thursday March 12 2015)

Sauber lose van der Garde appeal (Thursday March 12 2015)

Hass will be ready for 2016 debut (Wednesday March 11 2015)

Hamilton resists Ferrari approaches (Tuesday March 10 2015)

2015 Formula One Drivers (Tuesday March 10 2015)

2014 F1 Driver Standings (Tuesday March 10 2015)

2014 F1 Constructor Standings (Tuesday March 10 2015)

Marussia cleared to race (Friday March 6 2015)

Lotus pleased with steps forward (Friday March 6 2015)

Alonso woke up in 1995 (Friday March 6 2015)

Alonso to miss out on Australia (Wednesday March 4 2015)

Chilton makes move into WEC (Tuesday March 3 2015)

Hamilton keeps Mercedes on top (Monday March 2 2015)

Williams top first day of final test (Friday February 27 2015)

Manor name first driver (Thursday February 26 2015)

Alonso released from hospital (Wednesday February 25 2015)

Alonso remains hospitalised (Tuesday February 24 2015)

Alonso airlifted to hospital (Monday February 23 2015)

Maldonado tops third day in Barcelona (Monday February 23 2015)

Red Bull on top on day two in Barcelona (Monday February 23 2015)

Maldonado tops first day in Barcelona (Friday February 20 2015)

F1 set for Qatar in 2016 (Thursday February 19 2015)

Raikkonen unfazed by uncertain future (Tuesday February 17 2015)

Alonso just wants equality at McLaren (Friday February 13 2015)

Honda plan upgrades for next test (Wednesday February 11 2015)

Force India look set to miss second test (Tuesday February 10 2015)

Marussia push on with return (Monday February 9 2015)

Force India block Marussia return (Friday February 6 2015)

Raikkonen and Ferrari on top in Jerez (Thursday February 5 2015)

Signs of progress for McLaren? (Wednesday February 4 2015)

Marussia to exit administration (Wednesday February 4 2015)

Sauber top third day (Wednesday February 4 2015)

Early struggles for McLaren Honda (Tuesday February 3 2015)

Hamilton set for contract talks (Monday February 2 2015)

Formula One teams hit the test track (Monday February 2 2015)

Bernie wants one wish (Friday January 30 2015)

Could F1 lose German Grand Prix? (Tuesday January 27 2015)

New engines attract new fans (Friday January 23 2015)

Vettel's big gamble at Ferrari (Wednesday January 21 2015)

Honda allowed to make in-season changes (Tuesday January 20 2015)

Qatar bid for F1 scuppered? (Monday January 19 2015)

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 1045
2. DJ 940
3. The Fear 771
4. Villaininthemerde 612
5. johnkelv 581
6. Druss_the_Legend 532
7. Push The Button 451
8. col8 334
9. The Intimidator 157
10. __villa__ 145

Current Site Poll (view all polls)

Can Ferrari win again in 2015?
Yes 100%
No 0%