Cost reduction through rules sought as F1 cost cap unlikely to happen 7 April, 2014 Formula 1 has abandoned plans to impose a budget cap in 2015 and will seek to reduce costs instead through regulation changes, FIA president Jean Todt said on Sunday. The governing International Automobile Federation announced last year that, with some teams struggling financially, it planned to introduce a cost cap for next season with an agreement scheduled for June 2014. However Todt, speaking to reporters at the Bahrain Grand Prix, said leading teams had made clear they did not believe the initiative was viable. 'I understand that all the (six) teams that are part of the strategy group are against the...
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