Small F1 teams supportive of FIA cost cutting measures
“I think everyone has acted responsibly and, in a difficult financial climate, I feel we are moving in the right direction. However, we still have a lot of work to do," he told StarBiz during the second leg of the 2009 F1 Grand Prix over the weekend.
The new cost-cutting measures imposed by the FIA for the 2009 season include prolonged engine life, reduction in the cost of the engines by about 50% for independent teams, cut in manpower and reduction of in-season testing.
Horner said: “I think it helps create a level playing field so that we have the same tools at our disposal and it’s not just an arms race about who has the most money."
"The current global financial crisis was likely to have a bigger impact on teams backed by auto manufacturers rather than a consumer product company (like Red Bull)."
For Force India F1, one of the smallest teams in terms of budget size and manpower, operating with limited resources was a norm, said director of business affairs Ian Phillips.
“Our culture has always been to achieve a lot more on a small budget and we have been very good at getting US$2 worth of business out of US$1," he said.
"Force India, with 275 employees, will maintain its 2008 budget of US$120mil for the current season."