FIA confirms cost-cutting measures for 2015 F1 season

The FIA has confirmed its earlier plan to introduce cost control and cost reduction regulations for 2015 following a meeting yesterday.

The regulations will be presented to the World Motor Sport Council in June and will come into force for the start of next season.

An FIA statement said, “The FIA president reaffirmed to members of the WMSC the FIA’s intention to assure a healthy, affordable and spectacular FIA Formula One World Championship for the long-term future. At a meeting of the F1 Strategy Group yesterday, chaired by the FIA president, and attended by Bernie Ecclestone and the teams, it was unanimously agreed that cost reduction and cost control regulations will be presented to the WMSC in June 2014 for introduction in January 2015."