BMW boss welcomes FIA cost-cutting measures

P90044320-zoomBMW Sauber boss Mario Theissen has endorsed the FIA’s package of measures to ensure the financial well-being of Formula One amid the global economic downturn.

Formula One’s supreme governing body, the FIA World Motorsport Council, yesterday unveiled a raft of rule changes to reduce costs, including a ban on in-season testing, and restrictions on aerodynamic and engine development.

The proposals were the product of joint-collaboration between the teams via the Formula One Teams Association (FOTA).

“The decisions reached are a reflection of the intensive efforts made by the various FOTA working groups in recent weeks,” said Theissen, welcoming the rule changes.

“The proposals for cost cutting have also persuaded the FiA. That means we have now established a mutual basis for 2009, and in further stages for the following years, on which to carry out a restructuring of Formula One.”

“The paramount aim in this will be to adapt to the economic environment. We will not, however, be neglecting the interests of the fans. Numerous suggestions are aimed at injecting the Formula One events with greater appeal.”

“The approved measures will certainly require further fine tuning, but with the spirit that has been shown over the last months, we will be able to resolve the details jointly as well.”