Mercedes Motorsport's Haug Says F1 Must Cut Costs

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Motorsport Boss Norbert Haug says that Formula 1 must cut cost if the sport is going to have a future.

"This is vital to the future of Formula 1. It cannot just be a spending competition. Look at us; we spent three times in 2005 in F1 what we did in 2010. Be it engine, aero or whatever; reducing the costs is vital for the future of F1. There are lots of ideas, but we need a common decision. The FIA needs to be committed to it and FOM needs to be fully committed to it if we are to have 10 teams or more in F1," said Haug. 

The teams have until July 24 to decide on the rules for next season that are meant to keep costs from growing, if not shrink them. One possibility is a Resource Restriction Agreement, but the teams can not agree on what should be in this agreement, and it seems hard to believe that an agreement will be found among the teams. 

The FIA is meeting with teams to try to foster consensus.

Source: Autosport