F1: Todt prepares new budget cap attempt

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FIA president Jean Todt will revive the Formula 1 cost cap proposal when teams gather in Geneva on Tuesday for more meetings about the sport's future.

With Todt concerned about F1's financial situation in the wake of Marussia and Caterham's problems, he plans a new push for a budget gap and wider cost-cutting measures. Although the ideas were rejected earlier this year, he hopes that teams in the Strategy Group and F1 Commission may now be more open to introducing measures that will safeguard the full grid.

"On the agenda I will again put reducing the costs," said Todt, speaking publicly for the first time since Marussia and Caterham hit trouble. "I met some people from the three more vocal teams [Lotus, Sauber and Force India] and we have talked about ways of reducing costs.

"But, I was the only one [in the Strategy Group] to encourage the list of the parts [that teams must make themselves] to be reduced and action to reduce the costs. All the others were not in favor.

"We have spoken about a cost cap, too. We [the FIA] spent so much money on consultation to make sure it could work and even Lotus, who said today F1 costs too much money, voted against it. So what can we do?

"I am happy saying that everybody in life must accept not being too rigid, so we are going to present the different stakeholders, and the Strategy Group, with the same proposals that were refused before. Do they want a cost cap? Do they want to follow the proposals we have to reduce the costs?"

ENGINE PRICE LIMIT

As well as the efforts he will make at the meeting, Todt has vowed to address the price of F1's new turbo V6 engines with manufacturers, and wants a cap on what they can charge customers.

The dramatic jump in engine costs for this year has been singled out as a key factor in why smaller teams are struggling to afford to compete.

"The average price of the engines is $30 million, which is too high," Todt said. "They went roughly from about $18 million to $30 million, which is too much as it is a 70 percent increase on top of everything.

"I am going to fight about the price of the engines for the small teams in order for them to have a more affordable situation.

"I will do the best I can. I cannot guarantee the results but I will get into that."