Categories: F1 News, Reports and Race ResultsFerrari

FIA set to allow new engine, slams Ferrari veto on cost cap

40

The FIA says it is set to allow a new power unit to be introduced from 2017 after Ferrari blocked cost cap measures on the current engines.

In a forceful statement clearly criticising Ferrari's stance, the FIA says the majority of teams as well as the commercial rights holder - Bernie Ecclestone's Formula One Management [FOM] - agreed to set "a maximum price for engine and gearbox for client teams in the last Strategy Group meeting".

However, Ferrari then exercised its right to veto any changes to F1 regulations, something which is part of its bilateral agreement with Ecclestone. In doing so, Ferrari was able to block the cost capping measures.

As a result, the FIA says it will investigate the possibility of allowing a cheaper power unit to be supplied by an independent manufacturer from 2017 onwards, a move which was reported earlier in the US Grand Prix weekend. Following its consultation phase, a tender is likely to be opened up.

The FIA's statement in full reads:

"The FIA has studied cost reduction measures for teams participating in the FIA Formula 1 World Championship which were not conclusive, including:

- a global cost ceiling

- a reduction in costs via technical and sporting regulations

- an increased standardisation for parts

"The FIA, in agreement with FOM, suggested the principle of setting a maximum price for engine and gearbox for client teams at the last Strategy Group meeting.

"These measures were put to the vote and adopted with a large majority.

"However, Ferrari SpA decided to go against this and exercise the right of veto long recognised under agreements governing F1.

"In the interest of the Championship, the FIA has decided not to legally challenge Ferrari SpA’s use of its right of veto.

"Therefore the FIA will initiate a consultation with all stakeholders regarding the possible introduction of a client engine, which will be available as of 2017. Following this consultation a call for tenders for this client engine, the cost of which would be much lower than the current power unit, could be undertaken.

"Supported by FOM, the FIA will continue in its efforts to ensure the sustained long-term development of the Championship and look for solutions enabling it to achieve this. It asks all of the teams to make a positive contribution to the success of this approach through proposals and initiatives in the interest of the Championship and its continuation over the long term."

F1 closing on two-tier engine regulations

Lewis Hamilton: Three-time F1 world champion

United States Grand Prix - Driver ratings

Click here for the F1 drivers' girlfriends gallery

Keep up to date with all the F1 news via Facebook and Twitter

Andrew Lewin

Andrew first became a fan of Formula 1 during the time when Michael Schumacher and Damon Hill were stepping into the limelight after the era of Alain Prost, Nigel Mansell and Aryton Senna. He's been addicted ever since, and has been writing about the sport now for nearly a quarter of a century for a number of online news sites. He's also written professionally about GP2 (now Formula 2), GP3, IndyCar, World Rally Championship, MotoGP and NASCAR. In his other professional life, Andrew is a freelance writer, social media consultant, web developer/programmer, and digital specialist in the fields of accessibility, usability, IA, online communities and public sector procurement. He worked for many years in magazine production at Bauer Media, and for over a decade he was part of the digital media team at the UK government's communications department. Born and raised in Essex, Andrew currently lives and works in south-west London.