Honda website
Honda website

JULY 25, 2005

The manufacturers and teams have their say

Nine teams and five manufacturers have now finalised their joint proposals for the future of Formula 1 and have issued a statement giving details of their plans. The plan includes the foundation of an organisation called the Grand Prix Manufacturers' Association (GPMA).

The proposals have been prepared in a range of meetings since January by technical, commercial and legal executives from the nine teams (BAR, Jordan, McLaren, Minardi, Red Bull, Renault, Sauber, Toyota and Williams) and the five manufacturers (BMW, DaimlerChrysler, Honda, Renault and Toyota).

They agreed to maintain and build upon Formula 1's position as the number one annual sports series in the world and that it should attract, excite and provide the best possible sporting spectacle and good value on a worldwide basis. They agreed that F1 must consolidate its position at the pinnacle of motorsport, by presenting the most exciting, technologically advanced and global motorsport series. They also agreed that a long term plan for the prosperity of the sport and its key constituents should be put in place, so that those parties which contribute greatly to the sport's success have a stable and economically viable future. The participation of independent teams will be supported and encouraged, particularly by enabling small teams to secure a stable source of engine supply.

The statement said that "where possible, costs should be significantly reduced, providing that the sporting spectacle and competition is not compromised. The vision is for a fair and transparent sport with well-funded and highly competitive teams on every row of the grid, with the best drivers competing on the most exciting race tracks around the world.

"Formula 1 has to be at the forefront of technology and continue to showcase technical innovations in line with those in the auto industry. At the same time the introduction of potentially expensive innovations should not jeopardise the commercial and sporting viability of independent teams. Cost saving is a fundamental objective for the teams and manufacturers, as it is important that new technologies can be introduced at the lowest possible price."

The teams and manufacturers hope that the FIA will consider the proposals carefully and are calling for "a constructive dialogue with the FIA shortly" and have requested a meeting with Max Mosley shortly.

First announced on 9 May 2005 in Barcelona, the new manufacturers' association, now formally named Grand Prix Manufacturers' Association (GPMA), has now been formed by BMW, DaimlerChrysler, Honda, Renault and Toyota. The manufacturers' interests will be represented solely through this new entity, which will provide the manufacturers with an opportunity to shape the future of the sport and to provide exciting racing for its fans. Like the teams, the manufacturers hope to achieve the group's objectives within the sport.