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Tuesday, July 29, 2008

Teams unite for future of F1

Formula One’s teams came together at Maranello today, agreeing to set up an association to discuss the future of the sport.

The new organization is expected to work with the FIA and Formula One Management toward a new Concorde Agreement and sporting regulations.

The meeting was a response to a Max Mosley letter from earlier in the month seeking the team’s input on new rules from 2011, aimed at cost cutting, fuel economy and improved racing.

Also present for the meeting were ringmaster Bernie Ecclestone and Donald McKenzie of commercial rights holder CVC Capital Partners.

“All the Formula 1 teams met today in Maranello and held an extremely constructive meeting, in the presence of Bernie Ecclestone and Donald McKenzie,” Ferrari said in a statement. “The teams have subsequently agreed unanimously that they will establish the new Formula 1 Teams Association to work with the FIA and FOM to agree upon regulations and commercial conditions which will provide a framework for a strong and dynamic sport.”

Prior to the meeting, in an interview with Gazzetta dello Sport, Flavio Briatore weighed in on what he felt was needed, and the effects on the sport of a Mosley distracted by scandal.

“His absence is felt as there's no project for F1. The teams feel abandoned," Briatore said. “The Concorde agreement, the number of races, the costs, the spectacle, the imperative increase of revenues. Formula One needs to be redesigned. I feel that it should be down to the teams to decide, by electing in turns a director of operations. A guy who does things, not a PR person.”

Ever helpful, the folks at Red Bull offer a few thoughts on what can be done to cut costs in its Hungarian Grand Prixview. Don't miss the top stories of the day, subscribe to the SpeedRead Web newspaper now! -- Email SpeedRead -- Learn more about author C.D. Six

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1 comment:

Anonymous said...

Thanks for the Red Bull link. They've done it again.
Chris

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