Formula One teams face budget cap from 2009
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Formula One teams will face a cap on expenditure from next year, the governing International Automobile Federation (FIA) said on Thursday.
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The head of McLaren said he wanted to accept the record $100 million fine and suspension from the team championships if it meant ending the Formula One spy scandal.âIf we can achieve closure, then at this moment in time that would be my recommendation,â the McLaren chief, Ron Dennis, said. F.I.A., the sportâs governing body, concluded that McLaren had probably gained an unfair advantage with data from its rival Ferrari.
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Formula Oneâs major car makers will press ahead with plans to launch a rival series âno later than 2008â, they revealed today.
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Courts have ruled against the F1 supremo which somewhat takes away most of the powers from Bernie Ecclestone. However, he is back with a plan that might lead to his comeback in the most expensive sport in the world today.
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Formula One's governing body imposed sweeping technical changes Friday designed to slash costs and improve the qualify of racing starting next year.
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All Formula One teams except champions  Ferrari agreed Tuesday to restrict testing during the season to  30 days.
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Formula One supremo Bernie Ecclestone will propose changes to the sport's points-scoring system in 2008.
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A deal has been worked out to save the British and French Grand Prix races for 2005. According to Autosport.com, nine of the 10 F1 teams have agreed with Formula One boss Bernie Ecclestone to shoulder the costs for the two races next season.
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F1 and Silverstone's owners agree a five-year deal to save the British Grand Prix.
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The head of Italian sports car maker Ferrari says the future of Formula One will be decided next year and that manufacturers could walk away if they are unhappy with any deal.
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Formula One will have qualifying on the same day as the race next season after team bosses approved proposals put forward by the governing International Automobile Federation (FIA).
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Giancarlo Fisichella (Renault), Ralf Schumacher (Toyota), David Coulthard (Red Bull), Jenson Button ...
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The NHL salary cap will rise to $50.3 million per team next season, an increase of $6.3 million from last season, the league and players' union announced Friday.
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Four top carmakers plan to split from Formula One and launch a rival open-wheel Grand Prix racing series by 2008. The group -- which includes BMW, DaimlerChrysler, Ferrari and Renault, and is known collectively
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LONDON : The British and French Grand Prix are reported to have been saved after every Formula One team apart from Ferrari agreed to cut testing by 50 percent.
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FORMULA Oneâs teams last night put on a united front to come to the rescue of the British Grand Prix with a Â£20 million package that should put the nationâs most important motor race back on the calendar next year.
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Bernie Ecclestone&#39;s formula one empire was under threat last night after an alliance of car manufacturers announced they would set up a rival world championship series by 2008 to give a fairer financial deal to all the competing teams.