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The costs associated with competing in Formula One are enormous. In addressing the problem, the FIA has proposed a number of measures aimed at reducing those expenses. But while most of the teams are apparently on board, one key player has exercised its veto to defeat the initiative.
The issue came up at a recent meeting of the Formula One Strategy Group, where the participating parties discussed implementing a global cost ceiling, amending the regulations in order to drive down costs, and increasing the standardization of common parts. However one of the most concrete steps would have seen the FIA institute a maximum price which engine suppliers could charge independent teams for their power units. The issue was put to a vote, which the FIA reports passed with a "large majority." But Ferrari vetoed the measure, exercising the right accorded to it under the governing regulations – a step which the FIA will not contest.
With its cost-cap measure defeated, the governing body has confirmed its intent to move ahead with proposals to bring in an outside engine supplier that will provide motivation to independent teams at a lower cost. As we recently reported, the price associated with securing power units from suppliers like Mercedes, Renault, and Ferrari, typically costs teams as much as $30 million per season – a solid two or three times what they cost in the previous V8 era.
http://www.autoblog....upply-cost-cap/
by Noah Joseph
This is not a topic that I follow closely and I only became aware of it from watching the TP's press conference this evening .... I cant find too many articles on it - and I do no have any firm views.
.... but an F1 forum should have a thread on something like this so despite my disadvantages I have started this one.
What do you all think about a) Ferrari's veto and b) the circumstances in which it was exercised recently .... and anything else you think is relevant.
