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Mosley to discuss costs with teams after Chinese Grand Prix 08 Oct 2008

FIA President Max Mosley on the grid Ferrari President Luca di Montezemolo watches qualifying

FIA President Max Mosley will meet with the ten Formula One teams later this month for discussions on the sport’s future. Cost cutting, regulation changes and ways of maintaining competitiveness will all be on the agenda.

The move comes after a successful meeting in France on Wednesday between Mosley and Luca di Montezemolo, Chairman of the Formula One Teams' Association (FOTA).

That meeting followed Tuesday’s decision by the FIA’s World Motor Sport Council to hand Mosley authority to negotiate with FOTA on the introduction of radical measures to achieve substantial cost reductions in Formula One from 2010.

Full statement from the FIA:
FIA President Max Mosley and Luca di Montezemolo, Chairman of the Formula One Teams' Association (FOTA), met today in Nice to discuss the current situation in Formula One.

After a constructive meeting they agreed that the FIA President would invite the full membership of FOTA to a meeting immediately following the Grand Prix of China.

At this meeting the FIA will discuss and share with the teams the strategic decisions which are now urgently required, having regard to current world-wide economic problems.

The main topics for the meeting will be:

- very significant and urgent reductions in costs
- future technical regulations for chassis and drive train
- maintaining the competitive element - future performance differentiators