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F1 teams step away from cost-cutting clash

Formula One's cash-strapped smaller teams sounded a note of cautious optimism on Friday after a meeting with the sport's powerbrokers to discuss how to slash costs in the face of opposition to a cap on spending. "Force India was very encouraged by the meeting and was appreciative of the FIA (International Automobile Federation) responding so positively to the letter that was sent," that team's deputy principal Bob Fernley told Reuters. "We are optimistic that following the Biggin Hill meeting a constructive process will now take place." Force India, Sauber, Caterham and Marussia wrote to the FIA last month when the governing body announced that a planned cost cap for...
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