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DATE News (chronologically)
04/23/09
f1
No cap on driver salaries  Formula One's governing body has agreed to exclude drivers' salaries and marketing costs from an optional budget cap to be introduced for teams next season.

International Automobile Federation (FIA) president Max Mosley has also written to teams asking them to advise him by close of business on Thursday whether the £30 million ($43.69 million) cap should be revised. He warned that the sport, which saw Honda depart in December, risked losing at least two more teams for 2010 were the cap not to be an option.

"We are now close to concluding the regulations, both financial and technical, for presentation to the World Motor Sport Council on 29 April," Mosley wrote.

"The financial regulations will be based largely on the principles established by the teams and the FIA last year. The key point is that the budget cap for 2010 will cover all team spending except for marketing and drivers."

Those accepting the budget cap will have greater technical freedom than teams who prefer to continue with unlimited budgets, theoretically allowing them to be competitive with less money.

Several parties, including Lola and former Benetton and BAR boss David Richards, have expressed interest in entering under such a cost cap and Mosley said the FIA would select three.

"This will demonstrate that with less than £30 million, it is possible to run a Formula One team which is virtually indistinguishable from an unlimited-expenditure team," he said.

"Apart from the three new teams, we have had indications that some existing teams would like to run under a cost cap in 2010," added the Briton.

"However this might mean an adjustment of the 30 million figure. Could you, therefore, please indicate what you would consider to be a minimum acceptable figure for the cap?"
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