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F1 teams to attend summit

Wednesday 15th January 2014

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F1 teams to attend summit

F1 teams to attend summit

Former One team bosses will meet in Switzerland next week to discuss the future of the sport, according to reports.

Several proposals, with the major one being a cost cap, were put on the table during the previous World Motor Sport Council meeting in December and teams will now follow up on that.

According to GPUpdate.net, the summit will take place in Geneva, Switzerland, on January 22 and it "is expected to be focused on the regulations put forward at the end of the last year and the general direction in which the sport is heading".

The introduction of a cost cap caused major controversy in 2009 when Ferrari threatened to pull out of the sport. The FIA decided to scrap the idea, but it is back in the spotlight now with several teams admitting something needs to be done to reduce the amount of money that is being spent.

"We are still far from having something inked," Lotus team boss Eric Boullier told Autosport. "In principle, we have to understand that you have maybe three or four teams who can afford to spend twice the average budget of the rest of the grid.

"For me the problem is not what they spend because the more they spend, the better it is for F1 in some ways.

"But we need to have a competitiveness that allows most of the teams to fight for podiums.

"If you have the same winner, as we have had in the past, it could be dangerous for F1.

"We have to make sure we bring some stability in the paddock to most of the teams and make sure we can have more teams involved in fighting for the Championship to make the racing exciting."

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