FIA president Jean Todt has branded cost cutting proposals put forward by Formula 1′s biggest teams 'a joke'. Earlier in the year, the F1 Strategy Group – compromising of Red Bull Racing, Mercedes, Ferrari, Lotus, McLaren and Williams – decided to scrap Todt's plan to introduce a cost cap in 2015. After the smaller outfits – Force India, Sauber, Marussia and Caterham – wrote a letter to the sport's governing body suggesting an abuse of power from the Strategy Group, Todt organised a crisis meeting with all 11 teams on May 1st and asked them to come up with cost-cutting suggestions. Talking to media over the Spanish Grand Prix weekend, Todt said F1 needs to...
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