FIA boss Max Mosley hits out at the current state of F1

FIA boss Max Mosley has hit out at the current state of Formula One, claiming that the sport possesses a 'culture of wastefulness' as well as cost issues which must be rectified to ensure a safe future for the sport. The endeavor for success has succeeded over any kind of financial discipline. Formula One is becoming ridiculous," Mosley explained to German publication Spiegel. The FIA president is warning teams that more manufacturers could find themselves in the same position as Honda and withdrawing from the sport if rising running costs are not seen to in the immediate future.

He continued: "Maybe we (the FIA) could turn things around completely and grant technical freedom while imposing limits to the budgets." Mosley also warned that, with shares of Daimler at an all-time low and those of Renault just over the ten euro mark, job cuts in large car companies are far more than a distant possibility.

"What happens when people have to be made redundant? Can it still be justified to invest so much money in Formula One?" he questioned. "Nobody can rule out the possibility of having a fax landing on the desk of a racing team's headquarters saying: Sorry, that's it."