F1 teams seek urgent talks on budget cap

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The Independent Online

Formula One teams have expressed concerns about rule changes for next season, including plans for an optional budget cap, and are seeking urgent talks with the governing FIA.

The Formula One Teams Association (FOTA) met in London on Wednesday to discuss the 2010 regulations published by the International Automobile Federation as well as the progress of negotiations over a new commercial agreement.

"FOTA has concerns with the decisions taken at the last WMSC (world motor sport council) meeting regarding the 2010 regulations and therefore asks to begin urgent consultations with the FIA," the body said in a brief statement.

The teams also agreed to continue working together "in a methodical manner" to agree further cost reductions for next year and 2011.

The FIA announced last week that teams willing to compete with an optional £40m cost cap would be allowed greater technical freedom than those continuing with unlimited budgets.

The regulations also stated that the 2010 drivers' championship would go to the winner of most races rather than the highest points scorer, a plan that the FIA shelved for this year after opposition from the teams.

The FIA also gave all teams, including would-be new entrants, a 29 May deadline to sign up for next year's championship and state whether they would be competing with a cost cap or not.