Formula One Teams Association
Thursday September 11, 2008
The 10 Formula One teams today met here in Monza to "execute the articles of association" of the Formula One Teams Association, which they recently agreed to found, the group said in a press release.
Luca di Montezemolo, of Ferrari, has been appointed chairman and John Howett, of Toyota, is vice-chairman. The statement said that FOTA "is committed to the development of Formula 1 and will work together with the FIA and the Commercial Rights Holder to enhance the spectacle of the sport whilst reducing cost and increasing revenue."
It also aims to, "promote the development of Formula 1 and enhance its worldwide image and reputation."
They've got their work cut out!
Comments
If they really want to cut costs they need to stop changing the rules every year. The costs of constantly having to comply with new regulations is ridiculous. Set a standard and let the teams work within those guidelines.
I agree with Bill comments, the fact that FIA is pushing to cut cost with all those changes it increase the R&D. Hasn’t FIA realize that make constantly changes it will increase the development cost? I start to believe that FIA doesn’t know exactly what they are looking at. Another way to make Formula One more balanced it is to eliminate the Concordia Pact and have the Formula ONE teams to run the show and to split the profit share in a most balance way.