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GP Week : Issue 30
> F1NEWS> FOTA set to outline plans THE Formula One Teams’Association will this week deliver proposals to FIA President Max Mosley for the 2011 Formula 1 regulations. Mosley sent a letter to all F1 team bosses on July 3, stating that the current financial state of Formula 1 was “unsustainable.” The letter went on to state that if the F1 team bosses could not reach unanimous agreement over proposals for cost- cutting in the form of new regulations for 2011, the FIA itself would determine the new direction. With the October 3 deadline for these suggestions looming, FOTA Vice President John Howett confirmed to GPWeek that the body had formed a consensus, although refused to be drawn on any specifics. “I think that’s a matter for FOTA and the FIA but there’s a lot of consensus inside FOTA, so we have to wait and see how the FIA react, but I think at this stage there’s nothing to say and I think when there’s something appropriate I guess [FOTA President] Luca di Montezemolo will make a statement.” The outlining of cost-saving initiatives comes after two weeks of frantic worry on the global economic markets, however Howett also confirmed that while FOTA was concerned with the recent problems, there was no reason to fear that Formula 1 should be affected more than any other sport. “I guess [it is the same] in any sport. I don’t see the difference between this and the Volvo Ocean Race or Manchester United, so I think we shouldn’t get paranoid that Formula 1 is the only sport that could potentially be affected. “I think if you look at the global reach of Formula 1 it could, in fact, be one of the better protected sports because we’re not located within a single market. There are markets that are still resilient to this situation and for us certainly Saudi Arabia is booming, and that whole region, China is still very strong, Russia is very powerful, and to some extent at the moment still South America, so I think honestly speaking that our sport, I believe, should probably be better protected than many.” 10