Todt: “Budget Cap of 150 million Euros in F1”

F1 will see the introduction of a budget cap of €150 million for each team from 2015 and beyond. The president of the FIA, Jean Todt, said he was optimistic about the approval of the controversial rule by June with the Federation interested in urgently lowering the costs of the premier category in the face of the economic crisis of the teams.

“If the teams don't want it, we won't do it,” Todt told Auto Motor und Sport. “We don't have a mandate to do anything against the majority of teams. But from all our discussions I can conclude that the majority of the teams, the FIA ​​and the company that holds the commercial rights, want this cost limitation,” added Todt.

When asked about the budget cap figure he replied: “150 million euros. If revenues are higher, teams make a profit. This would be a sustainable model. A team like Ferrari should earn from F1, as is possible with a project for Le Mans."