The FIA, has decided to introduce a 3 year freeze on engine technology from 2008, with the idea to cut team costs.
Teams have also been told they have just 10 days, starting from Thursday, to sign up for the 2008 championship or risk losing their place. Renault, BMW, Honda, Mercedes-Benz and Toyota say they will break away if they are not granted more say in the running of the sport, a greater share of its revenues, and more transparency in its governance.
Discussions on technical regulations for 2008 will start after the entry deadline closes on 31 March and will be open only to those teams who have signed up. Max is putting extra pressure on the teams to sign and this is understandable, without teams we have no sport. I dread to think what would happen if we had a break away series.
F1 is famous for it's cutting edge technology with most of us benefiting in some way from track development. I can see problems with this cost cutting exercise, who's to say the top teams won't spend the saved cash on aerodynamics or brake development. This will leave the more cash strapped teams playing catch up in other areas.
What impact will this have on F1?