Formula One Teams Work on Cost-cutting Measures

Ferrari's president insists that new proposals will help reduce the costs of producing and running formula one cars

Formula one team principals have been working this week to devise a series of counter-proposals for reducing the sport's costs in response to the FIA's draconian threat to make near-identical "standard engines" compulsory from the start of the 2010 season.

The Formula One Teams' Association believes that its willingness to supply independent customer teams with competitive engines for €5m (£4m) a season will satisfy the FIA's determination to slash costs. The Ferrari president, Luca di Montezemolo, who is also the chairman of Fota, told La Gazzetta dello Sport: "This is a first package of proposals, voted unanimously, which will bring important cost reductions."

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