| The economic meltdown is now world wide and, | | | | by 60 or 70 percent? There is no accepted method |
| unfortunately, we are all feeling it. Even the master | | | | per se, but the idea is to modulate the cars. The |
| spenders in Formula One are reconsidering their manic | | | | teams and FIA would voluntarily agree that certain |
| spending and are now throwing around the idea of a | | | | parts of the cars would be off limits for development |
| spending cap of 50 million Euros. | | | | purposes. For instance, there might be an agreement |
| If you are new to F1 or a mild fan, the idea of | | | | that the suspension systems would be homogenized |
| spending 50 million Euros to develop a car for 18 to | | | | across all the cars. In contrast, the development of |
| 19 races [depending on the year], may seem | | | | the breaking system would be allowed. By modulating |
| obscene. After all, how much can you possible spend | | | | the car into different classifications, the teams could |
| on a race car? Well, F1 is the undisputed top of the | | | | avoid spending vast amounts on those areas. |
| racing world when it comes to technological | | | | Will this proposal work? Yes, it will definitely cut down |
| development. Spending $20 million to gain a quarter | | | | on the costs, but it is a risky idea. While something |
| of a second per lap is nothing to most F1 teams. | | | | certainly needs to be done during the economic |
| In truth, putting most Formula One teams on a 50 | | | | downturn, many view F1 as great because of the |
| million Euro budget is like making Jessica Simpson live | | | | technological innovations. If an excessive amount of |
| on carrots. It is hard to imagine it happening. A few | | | | innovation is removed from the sport, you basically |
| of the back marker teams in F1 spend less than this, | | | | end up with an international Indy Car series and |
| but this is why they end every race a lap or two | | | | nobody wants that. |
| down. The top teams are spending money as fast as | | | | The current worldwide economic environment is |
| they can. Toyota is estimated to spend $300 million a | | | | brutal for individuals, business and racing series alike. |
| year. Ferrari and McLaren Mercedes are close to the | | | | To the shock of many, Formula One has undertaken |
| same level. BMW is rumored to have spent over | | | | massive cost cutting despite the fact the rivalry |
| $100 million just developing their engine for Formula | | | | between teams is so brutally harsh. While it is hard to |
| One. | | | | imagine them actually agreeing to a 50 million Euro |
| So, how are these teams going to cut their budgets | | | | budget, the times would certainly seem to call for it. |