Thursday, 15 May 2008 09:00
|FiA proposes 150 million Euro Formula One budget cap for 2009 : -
Formula 1's governing body is proposing a three stage imposition of the annual teams' budget cap, beginning next year.
The German magazine Auto Motor und Sport cites the information of independent team co-owner Sir Frank Williams in revealing that the proposed cap will be made more severe every year until 2011.
In 2009, the cap is proposed to come in at 150 million Euros, reducing to 130m and 110m respectively over the next two years.
Driver and team boss salaries, as well as engine and marketing costs, will reportedly not be included in the cap.
Williams supports the introduction of budget caps.
"Otherwise our team is going to stay where it is: at the back of the field," the Briton said.