FIA proposes extreme budget cuts for 2010
The FIA – Formula One's governing body – has proposed that teams will compete in 2010 on less than a quarter of the amount some were spending last season.
"Our target would be to get the cost (of competing) down to €50 million ($65.17 million) for everyone, including the manufacturer teams," an FIA spokesman said.
A "Cost Containment Policy – White Paper" document was sent to teams in December containing extensive proposals that go well beyond what has already been agreed over the past few months.
Some constructors such as Honda, who will not compete in the 2009 season, are estimated to have spent more than $300 million last season.
The FIA and the Formula One Teams Association (FOTA) have already agreed a package of cost-cutting measures for 2009, including longer-lasting engines, limits on aerodynamic development and a ban on testing during the season.