Formula 1 heading for €150-million says Todt 4 April, 2014 It appears that Formula 1 is heading towards a budget cap of €150 million per team for the 2015 season and beyond. FIA president Jean Todt said he is confident that the controversial new regulation will be agreed by June of this year, as the governing body aims to urgently bring down costs and keep struggling teams in business. “If the teams don’t want it, we won’t do it,” he told Auto Motor und Sport. “We do not have the mandate to do something against the will of the majority.” “But from all of my discussions I conclude that the majority of the teams, the FIA and the rights owners do want this cost limitation,” revealed Todt. Asked to name the figure for the 2015 cap, he answered simply: “150 million euros.” That ties in with Formula 1 Chief Executive Bernie Ecclestone’s recent claim that a figure of about 200 million dollars has indeed been broadly agreed. “If the revenues are higher, the team makes a profit,” Todt said. “That would be a healthy model. “A team like Ferrari should make money through Formula 1, just as can be done with a Le Mans project.” (GMM) Subbed by AJN. Content on GrandPrix247.com by: staff & contributors, Reuters syndication, GMM service, Getty Images, Formula 1 teams, sponsors & organisations.