F1 to debate cost saving measures on Thursday
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|30 April 2014 by TF1T Staff | M||Tweet
Formula 1 chiefs are hopeful that a raft of changes over the next three years will amount to significant cost savings, doing away with the need for a cost cap which isn't favoured by the larger outfits.
The smaller teams had hoped the FIA's plan to introduce a budget cap would bring spending under control and create a level-playing field for them to compete on.
However it was rejected by the F1 Strategy Group - made up of Ferrari, McLaren, Mercedes, Red Bull, Williams and Lotus as well as FIA president Jean Todt and Bernie Ecclestone.
Instead, a three-step process, which will see more standardisation and stricter regulations to simplify components will be adopted, which, it's hoped, will provide the necessary cost savings to ensure the future of the sport.
Below is detailed what the Strategy Group will discuss during a meeting on Thursday, with various changes through to the 2017 season on the table.
Tyre blanket ban
Fuel system simplification
Brake duct simplification
Front wing simplification
Gearbox usage flow brought in line with engine life
Ban on front and rear interconnected suspension
Increase in curfew
Standard front impact structure
Standard rear impact structure
Standard final drive system
Standard steering rack
FIA standard active suspension
Move to 18-inch wheel rims