The long awaited FOTA statement was finally released on 5th of March detailing technical, commercial and regulations that have been agreed and will be implemented into future seasons of Formula 1 racing.
While it is encouraging to see all team principals participating and agreeing to cement their vision of the future of the sport, the current economic situation and the unsustainable use of resources provided have now forced their hands on the teams to agree to many technical regulation changes. Most of which involve homologating and producing long life or single make components; thus reducing the fascination of and image of technical advancement of Formula 1 racing.
This however does indeed take Formula 1 back to its roots before regulations of major components being required to self manufactured became applicable. However, it does not go as far back as off the shelf chassis as was the controversies over the last few years with the so-called customer cars. This does indeed cut down costs associated with the running of the cars however I don’t believe the cost cutting measures have gone far enough.
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Honda's decision to leave Formula One is just an early taste of the schism about to hit international motorsport worldwide. As the US based sub-prime economic meltdown hits, Honda will be the first of many to reassess the wisdom of spending millions of dollars on cars going round and round in circles.
Already major NASCAR teams are laying off staff and as the US big three put out the begging bowl to US taxpayers one wonders how any sensible Government will view any public funds being ploughed into things like NASCAR, NHRA and the American Le Mans Series.
In the week when Audi announced its commitment to building a new diesel powered sports prototype for Le Mans, they also announced a complete pull out from both the European Le Mans series and the ALMS.
Toyota, who have probably the biggest exposure of all the Japanese car makers to the collapsing US economy have issued a statement saying that they remain committed to F1. No, sorry that is “currently” committed to F1.
Unlike Honda, Toyota have had some limited success at F1 level and also unlike Honda they have the backing of a major naming rights sponsor in Panasonic.
But their press release does give very clear indication that unless ways are found to dramatically cut the huge cost of F1 then they too could be the next to go.
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Wednesday, March 18, 2009
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