Formula 1’s governing body, the FIA, has confirmed that during a Strategy Group meeting, Ferrari exercised its right to veto a cost cap for customer engine supply, despite the majority voting in favour.
The cost of purchasing a supply of F1’s new turbo-hybrid V6 power units – priced at around £18 million ($26m) per season – has long been considered a problem since their introduction in 2014.
A proposal to cap the cost was put to the teams with most voting in favour, however Ferrari, as the sports oldest team, has the right to veto any changes and decided to do so, according to a statement by the FIA.
“The FIA, in agreement with FOM, suggested the principle of setting a maximum price for engine and gear box for client teams at the last Strategy Group meeting,” it reads.
“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.”
INDEPENDENT ENGINE FROM 2017
As a result the FIA has thrown its support behind a proposal by Bernie Ecclestone to introduce a cheaper, independent engine, which would likely be based around a 2.2-litre twin-turbo V6 design with a basic KERS system.
Ecclestone recently said it would have ‘more power’ than the current engines, but due to higher fuel consumption, it would be at a weight disadvantage and it would therefore be equal in overall performance.
“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.”
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