Jean Todt Wants to Keep Costs Down in F1

Jean Todt is assuring teams that he intends on keeping costs down in Formula 1. There is concern among some of the teams that the transition to turbo V6 engines will increase costs for customer teams. 

FerrariFerrariItaly, 1947 > present233 models
5131 photos
37 videos
Chairman Luca di Montezemolo agrees with Todt and issued a statement earlier this week saying that Formula 1 costs need to be kept down immediately due to the European financial crisis. 

"It is true that the [2014] package will be more expensive, but it is also true that the FIA has been in consultation with the engine suppliers in order to reduce the cost increase. For example we have already agreed to a reduction in the number of power units. From eight per driver per season in 2012, we will reduce this to five per driver in 2014 and to four per driver per season in 2015," said Todt. 

According to Todt, 10 of the 12 teams have come to him requesting lower costs in the sport. 

Renault has requested that teams be able to supply engines to more than three teams in the future. By increasing customer teams, the engine manufacturers make more money, and it theoretically reduces costs by producing more engines. 

Todt says there will be no radical rule changes in the short term and will probably not implement Renault's plan. 

Source: Autosport