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FIA readying 'radical proposals' for 2010 budgets 27 Feb 2009

FIA flag.
Formula One World Championship, Rd 3, Bahrain Grand Prix, Race, Bahrain International Circuit, Bahrain, Sunday, 6 April 2008

Formula One racing’s governing body, the FIA, announced Friday that it is preparing radical rule change proposals for 2010, designed to allow teams to be competitive on a fraction of the current budgets.

The proposals, which will be considered by the FIA’s World Motor Sport Council next month, are intended to enable new teams to join the sport, as well as securing the future of existing independent constructors.

The FIA statement in full:
"In view of the difficult economic conditions which continue to affect Formula One sponsors and major car manufacturers, the FIA is preparing radical proposals for 2010.

"If adopted by the World Motor Sport Council, the new regulations will enable a team to compete for a fraction of current budgets but nevertheless field cars which can match those of the established teams.

"These regulations will not affect the established teams which now have stable backing from the major car manufacturers, but will enable new teams to fill the existing vacancies on the grid for 2010 and make it less likely that any team will be forced to leave the Championship.

"The proposals will be submitted to the World Council on 17 March."