FIA announces new attempt to cap costs in Formula 1 starting in 2015 10 December, 2013 Will costs controls in F1 ever work? Starting in 2015, time will tell Another attempt at introducing a cost cap in Formula 1 is being made, according to a surprising FIA announcement. Although many teams are facing financial difficulties, the idea of compulsorily capping annual budgets has remained highly controversial. But FIA president Jean Todt told L’Equipe last week: “We need to focus on the problem of costs at all levels of motor sport, not only Formula 1.” So, after a Paris meeting of the sport’s new strategy group and the Formula 1 Commission, and with Todt declaring a “mandate”, the sport’s governing body said that the “principle of a global cost cap has been adopted” for Formula 1. “The limit will be applied from January 2015,” the FIA declared. Limiting the costs of making it onto the F1 grid Current Formula 1 team budgets are believed to range from about €70 million at the back of the grid, to several hundred million for frontrunners Red Bull and Ferrari. The actual number eventually set for the cap is therefore the crucial detail. “If we’re all at €50 million or €120 million budget, the show will be no different at all,” Caterham boss Cyril Abiteboul argued recently. The FIA has said that it will now establish a ‘working group’ tasked with having the 2015 budget cap regulations approved by June of next year. “In the end,” Lotus chief Eric Boullier added, “if we don’t do this, it’s going to be more and more difficult to survive.” (GMM) Subbed by AJN. Tweet Related NewsVerstappen too young for F1 says TodtTodt says nine F1 teams sufficient for 2015 seasonHamilton: This one definitely feels sweeter than the firstDomenicali replaces Berger as FIA open-wheel bossHamilton collects 2014 Formula 1 champion’s trophyF1 drivers’ union GPDA backs Bianchi reportFIA release 2015 F1 calendar with 21 race datesDouble points scrapped as virtual safety car gets the nodFormula 1 introduces minimum age limit of 18Mosley ready to help F1 amid EU investigation StevetheGreat Dumb. jeff Really to the hell with these caps. If you want to play with the big boys and win the championship you had better come to the table with a boatload of green. This is THE PINNACLE OF MOTORSPORT. You want play on the cheap. Let the little guys go home. Let them find sponsors. Look at how long Sauber has been around. R&D has no limits.This is F1. You play you pay. PERIOD. Tom Riddle If they don’t do this we are going to end up with less and less teams in the sport because they can’t compete and sponsors won’t give mega money to teams who are always at the back of the grid. Personally, I don’t want to watch races where there are only 12 cars on the grid or 4 teams with 3 cars each. It would be disastrous for the sport. McLarenfan Simple stop changing the regs and increasing the costs i.e Power units, stop the FIA being leaches with the huge price of super licences and entry fees that are increased per point and also take the FIA’s kickback away. dcloudy777 Impossible to enforce. farizY Having loads of cash does not really translate to wins. Look at Toyota for example, heaps of cash, but not a lot achieved.