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Talks begin over further cost reductions

Talks begin over further cost reductions

15 June 2012

A new clampdown on spending in Formula 1 is being assessed by the FIA, with the governing body confirming that 'active discussions' are now taking place with all 12 teams involved in the sport. The main area being evaluated is chassis expenditure, with regulation tweaks targeted in a bid to further even the playing field.

Friday’s FIA statement reads as follows:

'At their request, the FIA is having active discussions with teams regarding cost control and any amendments to the technical regulations resulting from a further limit on expenditure on the chassis will be submitted to the WMSC via a fax vote before 30 June. The intention is to help all teams participate in the Championship in a fair and equal manner.

Constructive Concorde Agreement discussions are on-going between the FIA and the Commercial Rights Holder, with the intention of finalising an agreement in the coming weeks. It was also decided that the deadline for the closing of entries be deferred to 30 September.'

Any changes must be passed by the World Motor Sport Council by the end of June.

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