Plans for Formula 1 to introduce a cost cap from 2015 onwards have been abandoned, according to FIA president Jean Todt.
The sport's governing body announced last December that it intended to introduce cost-cutting measures for next season.
An agreement was scheduled for June 2014 but Todt – who attended his first F1 race of the year in Bahrain – has now confirmed that the six team representatives on the F1 Strategy Group (Red Bull, Mercedes, Ferrari, Lotus, McLaren and Williams) are now against the plan.
'Most of the teams were in favour of the cost cap, but I understand that all the teams that are part of the Strategy Group are against it now,' he told reporters at the...
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