FOTA want more budget cap talks

The Formula One Teams’ Organisation (FOTA) have called for more talks ahead of the 2010 £40million budget cap proposed by the sport’s governing body the FIA.

The principal concerns of the current teams is thought to be the possibility that the optional cap would result in a two-tier sport, because teams agreeing to the cap would be permitted more technical freedom. Meeting yesterday, FOTA appeared to be unified in the statement they made.

“FOTA held a positive and constructive meeting and agreed to continue working together in a methodical manner for the definition of further cost-reduction in 2010 and 2011, progressing along the path begun in 2008,” read the statement.

“FOTA has concerns with the decisions taken at the last WMSC meeting regarding the 2010 regulations and therefore asks to begin urgent consultations with the FIA.”

The FIA remains staunchly behind the proposal, which they maintain would be the best way of reducing costs in the sport. FIA President Max Mosley has been uncompromising with his stance on the issue, darkly hinting at doomsday scenarios if teams do not agree to cut costs.

The FIA’s trump card is the possibility of new teams joining the sport, attracted by the lower costs.

“The FIA believes that cost capping will prove attractive, and it hopes that over time all teams will join,” it said in a statement following the budget cap announcement.

“So far, interest has been extraordinarily high from both existing teams and potential new entrants.”

The “potential entrants” are thought to be Lola, who are reportedly contemplating a return to the sport they left ignominiously in 1997, and Prodrive – masterminded by Dave Richards, the man behind BAR’s success in 2005.