21-Oct-08: FOTA Issue Statement Following Mosley Meeting

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This is F1 Minute for the 21st October 2008.

Max Mosley and the FOTA have met today in Geneva, with Luca di Montezemolo and John Howett representing the organisation. After the meeting, a joint statement was issued saying that significant cost savings had been agreed upon for the next two seasons, with 2010 and beyond still to be decided. No real details were released, but we do know that engine life will go up from two races to three from next year, manufacturers now have to supply customer engines at an agreed price, and there will probably soon be an agreement that bringing a standard KERS unit into the sport is a good idea.

There is plenty still up for discussion, including customer cars, and testing limits, but the current standard engines proposal is notably missing from the FOTA statement. Before the meeting, Mosley said he would be pushing the standard engine as he would prefer F1 to concentrate on technology that will benefit all areas of the motorsport industry.

That wraps up the news for today, please join me again tomorrow for another F1 Minute.