The FIA's statement in full as the governing body announces wide-ranging changes to F1's Regulations for 2014 and beyond:'Following a meeting of the F1 Strategy Group and the Formula One Commission in Paris today, the following items have been unanimously approved:
• Cost capThe principle of a global cost cap has been adopted. The limit will be applied from January 2015.
A working group will 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 June 2014.
• Pirelli Tyre test - Bahrain, 17-19 December, 2013The F1...
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