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Ferrari: Cost cap needs to be phased in

– Ferrari President Luca di Montezemolo has that while the Scuderia is in favour of reducing costs it needs to be done carefully and should ideally be phased in over a three-year period. Plans to introduce a ‘global cost cap’ were agreed ‘in principle’ at the start of this month after a meeting of the F1 Strategy Group and the Formula One Commission in Paris, however, the details have still to be hammered out. “We are in favour of a three year plan to reduce costs, which should be achieved in a gradual manner, taking into account the characteristics of each team,” di Montezemolo told journalists ahead of the Christmas break. Di Montezemolo also added again that the idea...
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