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05/14/2008 - 09:26 AM
London, UK
Renault's Briatore would have to spend more to reach the cap. (LAT Photo) ยป More Photos
The FIA’s proposed budget cap for Formula 1 teams has been established at $170m (110m Euro), Autosport magazine reports this week.
That figure would be the bottom of a progressive plan calling for budgets limited to $268m (175m Euro) next year, $214m (140m Euro) in 2010 and finally $170m in 2011.
At this point in the discussion the figures look highly academic, however, as the proposed cap would not include expenditure on engines, the development of the new KERS systems, marketing costs, and salaries for drivers and team principals – all part of the
"I already pay 40 percent less than the cap,” Briatore revealed to the magazine. “If I want to keep to the limit then I need to spend more. It's nonsense.”
The project also calls for the establishment of a “financial commission” to policy the teams’ expenses and ensure that the squads abide to the cap.
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