Teams accept F1 change

Team owners have today given the green light to plans for a cheaper and more exciting Formula One.

Owners met FIA president Max Mosley in Monaco today to discuss the Englishman’s radical plans for the sport, which include banning high-tech driver aids.

Mosley last month outlined his vision for Formula One from 2008 onwards, when the Concorde Agreement which governs the sport needs rewriting.

Mosley can impose whatever rules he wants from 2008 onwards – with teams then left to decide whether they want to be part of Formula One – but he is keen to see changes implemented earlier.

Team bosses have now been convinced of the need to shake up the sport, with changes being brought in as early as 2006.

Mosley’s plans – which he said after the meeting were broadly agreed by teams - include a control tyre and a ban on electronic gizmos which make cars easier to drive.

The plans are designed to make racing closer and more exciting while also encouraging new teams to enter the championship.

Team bosses have agreed to open Formula One to new teams while the rules are expected to be changed from 2006 onwards to make running a grand prix team cheaper.

With some standard parts to be introduced as well as control slick tyres - without the grooves currently used – to be provided by just one manufacturer costs should fall.

A major reduction of testing was also approved, with engines potentially reduced to 2.4 litres from the current three litre formula to satisfy Mosley’s desire for reduced speeds.

Mosley revealed massive increases in the amount of money teams receive in commercial rights from Formula One supremo Bernie Ecclestone had helped push through changes.

Teams are believed to have negotiated a doubling of the money they receive each year, with top teams such as Ferrari likely to be see their income rise to around £100m (€148m) a year.

Mosley left the meeting telling waiting reporters he “couldn’t have asked for more” while he predicted the threat of a breakaway world championship would now subside.

The big car companies behind many of Formula One’s teams had clubbed together to propose an alternative series – called the Grand Prix World Championship - but Mosley is convinced that idea will fade away.

All Formula One’s major players were present in Monaco, from Ecclestone and Mosley to leading team bosses such as Ron Dennis, Sir Frank Williams and Jean Todt.

They opened the door to mid-season changes in the controversial qualifying system which has found few friends since it was introduced this year.

Currently, qualifying for each grand prix takes place over two sessions. The first session determines running order for the second, when drivers get one hot lap to determine their grid position.

That system is now likely to be changed this season after objections from television companies, teams and Ecclestone himself.