Formula One Bosses Agree to Shake-up

Formula one's team owners fell into line with the FIA president Max Mosley's radical package of technical changes designed to halve costs and rein-in car performance on grounds of safety.

Faced with the prospect of the sport's governing body imposing the rules - including reducing engine capacity from three-litre V10s to 2.4-litre V8s, banning traction control and allowing only one tyre supplier - the teams signalled their willingness to adopt most of the measures in 2006.

The only significant sticking point was changing the engine rules, with BMW and Mercedes arguing persuasively that continuing the development of the current V10s to the point where they would last for two races was a cheaper option than switching to V8 power plants.

Mosley has given the teams a month to make concrete proposals to support their contention that a 50% saving in engine bills for the top seven teams can be produced.

"There is a wide measure of agreement that we need to bring in changes much sooner," he said. "I think we are going to see a new engine formula in 2006. The engine manufacturers are going to make proposals in addition to those that we have made to reduce engine costs by 50%.

"It is estimated that the car makers are spending one billion euros collectively on their engine programmes, so if that can be reduced by half that will be quite a saving. Continuing things as they are is just not sustainable."

Initial reaction among the team owners was broadly positive. "It was a constructive and amicable meeting," said BAR's principal David Richards.

"For once we all sat down to consider the wider elements of the formula one business and how it should develop rather than the narrow issues which perhaps has been the case in the past."

Eddie Jordan added: "This was one of the most constructive meetings the team owners have had for some time. The unanimous feeling is that huge chunks of cost needs to be taken out of the formula one business."