F1: Max Mosley admits budget caps possible

From GMM

Max Mosley has admitted that capping the budgets of formula one teams would be a tidy way to slash costs.

The FIA president will present radical cost-cutting proposals for ratification to the World Motor Sport Council next month, after the FOTA team alliance separately reveals its own vision for the future of the sport at a Geneva press conference.

Mosley, intent on bringing down budgets to a "fraction" of their current massive scale amid the global recession, hinted that this could be done in one of two fundamentally different ways.

"The costs must be contained radically, by limiting the technical possibilities," he said. "Or perhaps we turn the principle around: allow technical freedom and limit the budgets," the Briton told the German weekly Der Spiegel.

The World Motor Sport Council meets on 17 March. The FOTA press conference is scheduled for March 5.