Formula One Teams' Association is meeting today at a Heathrow airport hotel, spokespeople for two Grand Prix outfits confirmed.

The news coincides with the leaking of a letter sent on Monday by FIA President Max Mosley to the alliance's Chairman Luca di Montezemolo, outlining the need for further radical cost cuts.

"I can confirm that McLaren, along with all the teams, are attending a FOTA meeting today at a Heathrow hotel," the Woking-based team told ESPN Racing-Live.

"Inevitably, Max's letter to the teams of January 5 will be discussed constructively in the context of aims shared by FOTA and the FIA in respect of cost-cutting initiatives, environmental initiatives and initiatives designed to improve the spectacle of Grand Prix racing generally.
"

It is believed that high on the agenda for the meeting is Mosley's proposal to investigate the possible future use of further moveable aerodynamic devices, in addition to the adjustable front wing that is allowed in 2009.

"If sufficiently radical, these could give a car following another car a performance advantage by virtue of being behind," the FIA President wrote in his letter to Montezemolo.

E.A, Source: GMM
© CAPSIS International

 

As previously reported he Formula One Teams' Association Executive Committee met today at Heathrow in London to discuss cost cutting initiatives. All the members unanimously agreed a number of principles and supported the process now established within FOTA it emerged this evening.

The teams detailed and signed a comprehensive 'Aerodynamic Test Restrictions Agreement' effective this year. Furthermore, the teams agreed that they would develop and freeze low cost transmissions for the 2010-12 seasons which will have a six-race life, priced at €1.5 million per season per team.

FOTA also reaffirmed its commitment to a €5 million engine supply from 2010 for independent teams.


The FOTA Technical Regulations Working Group will now conclude the elimination of 'expensive materials' and identify further opportunities to reduce the cost of components and systems which do not deliver a significant performance differentiation.

The teams present also expressed their support for Honda and agreed to any name change registered by a buyer.

The FOTA statement concluded that all of the teams are committed to working together to reduce the costs and that the same approach will be used to improve the spectacle of the sport, following the outcome of the FOTA-commissioned market research.

E.A. © CAPSIS International