GP2 cutting costs too

Just weeks after Formula One teams agreed on radical cost-cutting measures to secure their future, the sport's feeder category GP2 has moved to cut costs in their own series, as the global economic slowdown continues to affect motorsport sponsorship. The series' organizers have opted for changes on the technical and sporting side of the sport, in a bid to reduce costs and keep the on-track excitement unaffected.

Among the measures to be introduced is an F1-style ban on in-season testing, while limiting the number of staff any one team can bring to a race to just 13 people, further reduced to 12 from mid-season. The cost of car parts will also be reduced, thanks to the series supplier Dallara, while teams will also be given 'credits' for spare parts. Other changes to the technical regulations will also produce further cost cuts.

Bruno Michel (GP2 Series organizer):
“We cannot ignore the world's financial crisis that affects us all. We need to make sure we can go through the present delicate time by finding solutions both in the technical and sporting areas. However, we did not want to change the standards of quality that have been the assets of the success of GP2 since 2005. The balance is therefore very difficult to define, but we are trying to find the right level to keep the series as successful as ever. We have been looking at all the areas of our business and we have come up with the different steps that we will implement as of now. We are confident that our plan will help everyone go through the difficult period we are in and will have a very significant economic impact on teams' P&L already in 2009."