Formula 1 News

Jean Todt: “F1 has to reduce costs” 

According to former Ferrari CEO and Team Principal, Jean Todt, Formula 1 has to reduce its costs. “Definitely the cost of Formula One is very high. We cannot ignore there’s an economic crisis in the world at the moment and you can see the prices of shares and all that”, said the Frenchman on Sunday. “If a company wants to be in F1 it’s because the costs are acceptable and it’s worth being here. So even if the increase of the costs has dramatically slowed over the last three or four years it’s still very expensive and Max Mosley has worked very hard with the support of the teams. That’s the number one challenge. And then we need to make sure the regulations are suitable to the business because sometimes some regulations did not give the results people expected. But it’s going in the right direction,” Todt added.