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DATE News (chronologically)
01/09/09
f1
FOTA agree on standard 2010 gearbox, leave door open for Cosworth UPDATE Full FOTA Press Release:

The FOTA Executive Committee met today in Heathrow to further progress the cost reducing initiatives already developed. All the Members unanimously agreed a number of important principles and supported the process now established within FOTA.

The teams detailed and signed a comprehensive Aerodynamic Test Restrictions Agreement, effective in 2009.

Furthermore, the Teams agreed that they would develop and freeze low cost transmissions for the 2010/12 seasons which would have a six race life, priced at Euro 1.5 million per season per team.

FOTA also reaffirmed its commitment to a Euro 5 million engine supply from 2010 for independent teams, who have expressed their agreement with and support for this arrangement.

The FOTA Technical Regulations Working Group will now conclude the elimination of expensive materials and identify further opportunities to reduce the cost of components and systems which do not deliver performance differentiation. All of the Teams present wished to express their support for the entrant currently known as Honda and they will agree to any name change registered.

All of the Teams are committed to working together in a rational and systematic manner, within the framework of FOTA to effectively reduce the costs inherent to Formula One. The same approach will now be used to improve the spectacle of the sport, following the outcome of the FOTA commissioned market research.

01/08/09 Further agreements have been made between the teams on more cost cutting measures it has been announced. At a meeting of the Formula One Teams' Association (FOTA) in Heathrow, London today, all teams unanimously agreed on a number of important cost-cutting principles and supported the process now established within the association.

A new development within FOTA has been the agreement for the teams to develop and freeze low cost transmissions for the 2010-12 seasons, which would have a six-race life and cost €1.5m per season per team. The news comes following a leaked letter from FIA President Max Mosley to FOTA Chairman Luca di Montezemolo demanding that transmission costs be reduced, by proposing all teams run a standard gearbox supplied by an outside party.

Further highlights of their Heathrow meeting today was the signing of a comprehensive Aerodynamic Test Restrictions Agreement to come effect for 2009, while also reaffirming the manufacturer's commitment to supply €5m engines to independent teams from 2010, thus preventing the introduction of a mandatory standard engine.

“The FOTA Technical Regulations Working Group will now conclude the elimination of expensive materials and identify further opportunities to reduce the cost of components and systems which do not deliver performance differentiation,” read a FOTA statement. It's likely that the components and systems being referred to here will be standardized or frozen in order to reduce research, development and manufacturing costs.

FOTA also expressed their support to the Brackley-based Honda team, who continue to search for a buyer before the season-opening Australian Grand Prix at the end of March. The teams present at the meeting also confirmed that any name change from the current 'Honda Racing F1 Team' entity would be agreed to. “All of the Teams present wished to express their support for the entrant currently known as Honda and they will agree to any name change registered,” said FOTA.

In concluding, FOTA said it would now look towards improving the spectacle of the sport. “All of the Teams are committed to working together in a rational and systematic manner, within the framework of FOTA to effectively reduce the costs inherent to Formula One,” continued the statement. “The same approach will now be used to improve the spectacle of the sport, following the outcome of the FOTA commissioned market research.”

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