Formula 1 heading for 150-million says Todt 4 April, 2014 It appears that Formula 1 is heading towards a budget cap of 150 million per team for the 2015 season and beyond. FIA president Jean Todt said he is confident the controversial new regulation will be agreed by June of this year, as the governing body aims to urgently bring down costs and keep struggling teams in business. 'If the teams don't want it, we won't do it,' he told Auto Motor und Sport. 'We do not have the mandate to do something against the will of the majority.' 'But from all of my discussions I conclude that the majority of the teams, the FIA and the rights owners do want this cost limitation,' revealed Todt. Asked to...
Full Story »