13 F1 Teams Met Today at FOTA's Geneva Headquarters

Discussion in 'F1' started by jknight, Jul 16, 2009.

  1. jknight

    jknight F1 Veteran

    Oct 30, 2004
    Central Texas
    today from f1 live

    Bosses of all 13 Formula One teams for 2010 met on Thursday at FOTA's Geneva headquarters.

    The intention was to discuss and hopefully sign a legally binding 'cost regulation document', which when done will lead to all teams, the commercial rights holders and the FIA ratifying a new Concorde Agreement.

    As Formula One Teams Association head Luca di Montezemolo was detained on business elsewhere, the meeting was chaired by Toyota's John Howett and ran positively but not to the point where the document could be signed, according to a report by the German website

    The purpose of the document is to satisfy the FIA that costs in Formula One will reduce to 1990s levels within two years, meaning the budget cap provisions can be deleted from the 2010 rules and FOTA can definitively drop its breakaway threat.

    Despite reports earlier this week that peace was nigh, it might now be next week, or even after next weekend's Hungarian Grand Prix, before all the loose ends are tied up at the end of a heated political saga.
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  3. kraftwerk

    kraftwerk Two Time F1 World Champ

    May 12, 2007
    England North West
    Full Name:
    Ermm not sure how this will pan out.

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