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F1 to adopt cost cap

F1 is to introduce a 'global cost cap' and the limit will be applied from the start of January 2015.The decision comes in the wake of the economic downturn and increasing pressure on a number of the teams in the sport.“The principle of a global cost cap has been adopted. The limit will be applied from January 2015,” confirmed a statement issued by the FIA following a meeting of the F1 Strategy Group and the Formula One Commission in Paris.“A working group will [now] be established within the coming days comprising the FIA, representatives of the Commercial Rights Holder and Team representatives.“The objective of the working group will be to have regulations approved by the end of...
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