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Formula One budget cap off the table

A budget cap for Formula One teams, planned to be introduced by 2015 is now off the table, according to FIA president Jean Todt. He says the FIA will now look at further regulation changes to reduce costs. In December 2013, the World Motorsport Council announced that it approved the principle of a cost cap. A working group, including 6 of the 11 Formula One teams was subsequently established to negotiate the specific details of the cost limit. The working group at the time was said to be targeting a finalization of the regulations by June 2014. Teams part of the strategy group include Ferrari, Red Bull, Mercedes, McLaren, Williams and Lotus. It looked like there was to be an agreement on a...
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