OCTOBER 23, 2004
The proposals put foward by the teams
Paul Stoddart announced in Brazil on Saturday evening that nine of the 10 Formula 1 teams have agreed to what he calls "a significant step forward" in cost-cutting with a proposal to have a control tyre and reduce testing dramatically.
"This is the first move towards achieving the goal of reducing the necessity to spend enormous sums of money in order to be competitive in Formula 1," said Stoddart. "Such a course of action will ensure the continued long term health of the sport and its participants."
In order to bring these proposals into force for the 2005 season, they must receive the unanimous agreement of the teams before October 31. Ferrari may refuse to sign up to the deal but if that is the case it will be held responsible for not only refusing to cut costs in F1 but also bringing about the demise of two of the sport's oldest races: the British and French Grands Prix.
At a meeting of the teams on Saturday it was agreed that they would compete in 19 events next year if the proposals outlined were accepted.
This puts Ferrari is a very difficult position not only because of the effect on the F1 calendar but also because Jean Todt, the boss of Ferrari, is a Frenchman and will no doubt come under pressure from his own nation to save the Grand Prix.
The proposal calls for a control tyre to be organised and testing to be restricted to 10 days during the F1 season.
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