Cost Reductions in Formula 1

The World Motor Sport Council met in Monaco yesterday. The operating body, FIA, has announced decisions of the meeting to greatly cut the costs of Formula 1 for 2009 and 2010. Among other cost reducing rules, the engines will stay the same (except that Renault was granted to make certain modifications on its engines), and each engine has to be used for three consecutive races.

You might think these new rules are the result of the general economic recession in the world. They are not. Discussions about cutting costs in Formula 1 has gone on for years, even in the heydays of the latest economic boom. Formula 1 may be a sport that facinates the imagination of the whole world, thus letting the participants make a lot of money. Nevertheless, many important people in the sport have argued for a long time that since the sport has become more and more expensive for the participants, it may be digging its own grave. I believe this is so.

There is a danger in any sport that if it becomes too costly to become successful, too few people will try. When there are too few participants at the top, the interest of the public will fade and people in general will direct their attention to other sports. Of course, one of the great things about Formula 1 is that Formula 1 cars are the best, the fastest, the most advanced ground vehicles there is. It can, therefore, not be easy to decide upon rules to cut costs, because if the rules become too restricting, Formula 1 will lose the edge and may not be able to keep the title King of Motor Sports. This would also make people lose interest in Formula 1.

Now, it seems, the new rules has met with low opposition. I believe that if the current Formual 1 teams agree upon these rules, Formula 1 will still be the best of motor sports, while not too expensive for newcomers to try it out. This would strengthen the sport for the future. I hope it does.