By Adam Tate, Managing Editor
Formula One’s four engine manufacturer’s: Mercedes, Ferrari, Renault and Honda, have finally agreed to a season cost cap for their customer teams after months of speculation, argument and strife.
The soon to be announced deal comes on the heels of two days of meeting in Geneva for the Strategy Group and the F1 Commission. The plan proposed by the engine manufacturer’s calls for a cost cap of €12,000,000 per season for each of their customer teams. It is a significant reduction compared to current costs which have hit well into the 20 million euro range.
The plan effectively kills any chance of an independent engine coming to the sport in 2017 or 2018 when the next major regulation changes hit.
Also put forward are plans to ensure all current teams and supplied with engines as the sport looks to keep the V6 Turbo powerplants through the 2020 season.
The World Motorsport Council will look to ratify the changes at their upcoming meeting in March. We’ll have more information as it comes in.