FOTA agrees on new budget cap plan and technical partnership
Following a meeting between the team principals in London yesterday, the Formula One Teams' Association agreed to propose a system of technical partnerships for new teams to assist them in their way onto the 2010 Formula One grid.
The technical partnerships would give the new teams assistance in terms of parts and know-how. But this wasn't the only thing agreed by the members of FOTA. The teams also agreed on a "glidepath" approach in the budget cap regulations set by the FIA for 2010. Instead of dropping to €45 million in 2010, the teams want to reduce the budget to €100 million in 2010 and to €45 in 2011.
With these new plans on the table, it seems more and more likely that the teams and the FIA can find a reasonable resolution ahead of the entry deadline of Friday 29 May.
