The wheels are off for F1

Formula One must slash costs by 2010 or face serious problems, the FIA president Max Mosley has warned.

The Super Aguri mechanics carry Japanese driver Takuma Sato's car to the pits of the Sakhir racetrack. The team folded earlier this year.

LONDON // Formula One must slash costs by 2010 or face serious problems, the International Automobile Federation (FIA) president Max Mosley has warned. The Briton told the BBC that the global credit crunch had only made matters worse for the big-spending sport and there was a serious risk of some teams walking away if matters were not taken in hand.

"It has become apparent, long before the current difficulties, that Formula One was unsustainable," he said. Abu Dhabi has been confirmed as the venue to host Formula One's finale for next year's series, one of 18 rounds worldwide. "It really is a very serious situation," added Mosley. " If we can't get this (the cost cutting measures) done for 2010, we will be in serious difficulty." One team, Honda-backed Super Aguri, folded in May due to financial problems while others are either bankrolled by billionaires or owned by car manufacturers against a backdrop of reduced sales and falling share prices.

With the Toro Rosso team up for sale and looking for new ownership there is no guarantee just how long the grid will stay at 20, having started this season at 22. "At the moment we've got 20 cars," said Mosley. "If we lost two teams, we'd have 16. (If we lost) three teams (we'd have) 14. It then would cease to be a credible grid." Williams chief executive Adam Parr said last week that some of the teams could save around $200 million (Dh750m) a year if they were able to reduce their spending to the same level as the former champions.

Toyota are widely estimated to spend more than $400m a year on a team that has yet to win a race.Parr, whose team this month announced a loss of $38m last season, also said there was an urgent need for measures to be in place for 2010. The FIA this week gave Mosley authority to negotiate with the teams association FOTA to introduce "radical measures to achieve a substantial reduction of costs in the championship from 2010".

The governing body said that, failing agreement, it would enforce necessary measures. "The days when they (the teams) could just toss out the 100, 200, 400 million euros a year, which is what Formula One costs those big companies, I think they are finished," said Mosley. Following the meeting in Paris, the World Motor Sport Council (WMSC) issued the following statement. "The WMSC unanimously agreed to give the FIA President authority to negotiate with the Formula One Teams Association (FOTA) the introduction of radical measures to achieve a substantial reduction of costs in the championship from 2010.

"Failing agreement with FOTA, the FIA will enforce the necessary measures to achieve this goal. "It was further unanimously agreed to allow Formula One teams to equalise engine performance across the field for 2009. "That is pending the introduction of cost-saving measures from 2010." [e-mail] Raikkonen can still be driving force for Ferrari, s2-3