Date: 8th April 2014 at 9:25am
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FIA president Jean Todt has conceded in his battle to bring a cost cap into Formula One.

Reducing the costs of Formula One has been a major talking point in the paddock for a number of years.

Everyone up and down the pit-lane would like to lower the costs of the sport, but no-one will agree on the best way to implement it.

The resource-restriction agreement [RRA] is still officially in place as it is a legally binding document which has been agreed and signed by all the Formula One teams.

But the RRA’s policing has always been questioned and some argue that it has been a failure.

Inter-team squabbles about RRA have been attributed to the death of the Formula One Teams Association [FOTA], which was officially shut down recently.

The only group now of note is the F1’s Strategy Group, which doesn’t include all 11 teams on the Formula One grid. Instead it only involves Ferrari, Red Bull, Mercedes, McLaren, Williams and Lotus.

That group reportedly wrote to the FIA in March to voice their argument against a budget cap due to the problems in enforcing and policing the cap.

Instead the group suggested cost cuts could be made via technical and sporting regulations.

‘Most of the teams were in favour of the cost cap, but I understand that all the teams that are part of the Strategy Group are against it now, So clearly, if the commercial rights holder [Bernie Ecclestone], and if six teams, which means 12 of 18 are against, I cannot impose it. It’s mathematics. So in this case, no more cost cap.’ FIA president Jean Todt told Autosport Magazine.

‘Am I disappointed? In a way I am disappointed because it may be more difficult to achieve the reduction which I feel is needed.

‘But everyone says we are all in favour of reducing the cost, and through sporting and technical regulations.’

F1 cost cap ruled out