A budget cap is to be introduced in Formula One from the start of 2009, FIA president Max Mosley has confirmed.
In a letter sent this week to all 11 team bosses, Mosley outlines that plans for a budget cap are to now be put in motion after the idea received widespread support in a meeting in Paris last week.
Mosley outlines details of the budget cap plans in the letter, a copy of which has been seen by autosport.com, and confirms that areas falling outside the budget cap are engine costs, marketing and promotion, plus team principals' wages.
"Starting in 2009, there will be a cap on expenditure for all Formula One costs other than engines (as to which, see above), drivers and expenditure exclusively for promotion and marketing," wrote Mosley in the letter.
Read Article