F1 will move to put cost-cutting efforts back on the agenda during a May 1 meeting.<\/p>\n
Earlier, it was reported FIA president Jean Todt was considering new measures including reviving ‘active suspension’, after the new top team-dominated Strategy Group blocked his move to impose budget caps in 2015.<\/p>\n
A meeting for 1 May has now been called.<\/p>\n
“Time is running out,” Monisha Kaltenborn, whose Sauber team ran into high-profile financial strife last year, is quoted by the German news agency DPA.<\/p>\n
“Actually, the time for this decision is long gone, but it’s never too late,” the Swiss team’s boss added.<\/p>\n
F1’s smaller teams are angry that their more powerful rivals are thwarting moves to reduce spiralling costs, and reportedly threatening to challenge the Strategy Group against European competition laws.<\/p>\n
“It’s not about small or big teams,” insisted Force India chief Bob Fernley, “it’s about the future of formula one.”<\/p>\n
World champion team Red Bull’s Christian Horner, however, insists the biggest teams are not opposed to reducing costs.<\/p>\n
“We need to identify the cost drivers and equalise the playing field for everyone,” he said.<\/p>\n
Horner argues, however, that a budget cap was not the right solution.<\/p>\n
“How would a budget limit of $200 million help Sauber?\u00a0 They wouldn’t save a single dollar,” he claimed.<\/p>\n
A key meeting, to be presided over by Todt and Bernie Ecclestone, will now take place on May 1, between the Chinese and Spanish grand prix.<\/p>\n
“Hopefully we will find some solutions, and it’s not another of those meetings where we do not make a lot of progress,” Kaltenborn concluded.<\/p>\n
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