FIA seeks further cost-cutting measures for 2010

Formula One's governing body wants to further cut costs by 2010. In December the FIA has sent all the teams a document proposing regulation changes and a team budget of $64 million a year. This proposed budget could mean a drop of up to 75% for some of the larger manufacturers.

The news comes after a huge amount of cost cutting measurements were installed for the upcoming season. Due to the financial crisis however, the FIA feels that further steps have to be taken.

So far Honda, Subaru, Suzuki and Mitsubishi already pulled out or reduced their activities in motorsport.