Teams to unveil long-term vision for F1

FOTAThe Formula One teams will unveil a vision for the future of the sport at the beginning of next month.

With a raft of radical measures to reduce costs in Formula One now in place for the 2009-10 seasons, the Formula One Teams’ Association (FOTA) is now turning its attention to the long-term challenges facing the sport.

In what will be the teams’ first public show of unity since the formation of the organisation last year, FOTA will go public with their vision for the future of the sport at a press conference on March 5 in Geneva.

The event will be hosted by FOTA chairman and Ferrari president Luca di Montezemolo who said in an official invitation: “These plans are the result of a series of meetings held over the past few weeks and months, all of them with a common goal: to make Formula One commercially sustainable, environmentally friendly and compellingly attractive for spectators, TV viewers and Internet consumers alike for years to come.”

The vision will likely build on what Di Montezemolo has described as the ‘Four Ss’ or tenets underpinning grand prix racing over the next few decades: stability, seriousness, success, and sustainability.

“I think that F1, which is our life, nowadays needs the four Ss ,” he earlier this year [see separate story HERE].

“Stability, because regulations can t be changed every six months or every year, as that means being unable to program and it means the public becomes disoriented;

“Seriousness: these are financially difficult times, so we need common vision, seriousness, professionalism, and most of all never give the impression there are divisions;

“Show, or success, which is the same thing, therefore we need to look hard at the race weekend, the circuits, overtaking, the regulations;

“Sustainability: that s made of costs and returns; no team, no company can stand on its feet if it doesn t balance costs and returns.”

Market research commissioned by FOTA is also expected to feed into the results of the vision.