Mosley pushing for F1 budget caps

(GMM) Max Mosley has proposed a budget cap as the ideal solution to formula one's need to drastically cut costs.

Overseen by the teams and the FIA president, the sport has already introduced measures for the forthcoming season, but even more severe cost-slashing is slated for 2010.

In conversation with Germany's Auto Motor und Sport, Mosley "absolutely" agrees that annual budget limits for teams is the best solution.

"I have reminded the team that this measure solves all the problems immediately," the FIA president said.

"It would then be the decision of the teams how they spend their money," he explained.

He believes the current system, where the biggest teams unleash budgets multiple times the size of some of their rivals, is as unfair as allowing bigger engines for some competitors.

"Until now Ferrari has been the most opposed (to budget caps), but it seems that even they are beginning to understand," Mosley, pushing for an annual limit of between 40 and 50 million euros per team, said.

It is understood that at least two studies into whether budget caps in F1 can be effectively policed have been commissioned: one by the FIA, and one by Ferrari.

Not surprisingly, the FIA's study concluded that it is feasible, and Ferrari's found the opposite.

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