F1: Jean Todt renews cost cap campaign

FIA president now hopes to revive plans for cost cap in Formula 1.

The attempt to ease the sport's financial crisis earlier this year was rejected by F1's Strategy Group.

This group is composed by Ferrari, Mercedes, Red Bull, McLaren, Williams, Lotus, the FOM and the FIA.

Now, after the collapse of both Caterham and Marussia, the three private teams Sauber, Lotus and Sahara Force India are asking for a farer revenues' distribution.

"We know Formula 1 has cost too much money for decades now," said Jean Todt at Press Association Sport.

"There are four main problems in Formula 1 right now: reducing the costs overall, optimizing the show, reducing the power unit costs for the private teams and trying to keep everybody on board," added the FIA president.

"We tried in the past with our governance by asking all the teams to reduce costs, not by limiting developments, but limiting the number of parts produced. Of the FIA, the commercial rights holder and six (Strategy Group) teams I was the only one who encouraged the list of parts to be reduced and action to be undertaken to reduce costs, but all the others were not in favour.

"Then we spoke about a cost cap, but even Lotus, who say today it (the sport) is too much money and we should have a cost cap, voted against. What can we do? So we are going to present again to the different stakeholders of the Strategy Group the same proposals which were refused.

"Do they want a cost cap? Do they want to follow the proposals we have to reduce the costs? We will seem," comment Jean Todt.

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