Formula One published a five point plan,
outlining key initiatives put to teams ahead of opening practice
for Sunday's Bahrain Grand Prix.
The meeting had been anxiously awaited, with Ferrari -- the
sport's oldest and most successful team -- repeatedly warning
since last year that they could ultimately walk away from the
sport if they did not like what was on offer.
Formula One said future power units (PU) needed to be "cheaper,
simpler, louder, have more power and reduce the necessity of
grid penalties."
The engines must also remain road relevant for manufacturers,
and hybrid, with the rules making it attractive for new
entrants.
On costs, Formula One said that "how you spend the money must be
more decisive and important than how much money you spend."
It gave no details about any cap, however.
"The new revenue distribution criteria must be more balanced,
based on meritocracy of the current performance and reward
success for the teams and the commercial rights holder," the
statement added.
Formula One said overtaking opportunities needed to be increased
and driver skill needed to be the "predominant factor" in the
car's performance.
While cars must remain different from each other, areas not
relevant to fans needed to be standardized, Formula One said.
Governance of the sport also needed to be simple and
streamlined.
"We are driven by one desire: to create the world’s leading
sporting brand," said Formula One chairman Chase Carey.
"Fan-centred, commercially successful, profitable for our teams,
and with technological innovation at its heart."
(Reporting by Alan Baldwin in London, editing by Toby Davis)
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