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FIA to drop budget cap rule altogether?

The famous F1 logo of the FIA
The famous F1 logo of the FIA
Jul.3 (GMM) It is now not clear if annual budget caps will be introduced in formula one at all.

F1's governing body wanted to use the measure to slash teams' spiralling spending habits, but an FIA document seen on Thursday said "it is for the teams to decide" how to reduce costs.

The Max Mosley-led organisation also said the teams themselves must "decide if there should be restrictions on the development budgets of the manufacturer teams and, if so, what these should be and how they would be enforced".

The FIA said it wants teams to propose new rules for 2011, such as the availability of ultra low cost (2 million euros per season) customer engines for private teams, and extending the two-race engine rule to up to ten races.