Jan.31 (GMM) F1 teams' financial experts will meet in Paris with the FIA on Thursday to determine an appropriate budget cap for the 2009, 2010 and 2011 seasons.
It is expected that the budget limitations will phase in over the initial three year period, with FIA president Max Mosley to preside over a special department of 30 forensic accountants to police the cap.
Mosley will headhunt the experts from the UK's customs and tax department and its equivalents in Italy, Germany, Japan and France, according to a report in the Financial Times.
The teams will fund their salaries to the tune of about $3m per team per season.
"The first reaction from the team principals will be that it is intrusive and they do not want people poking around their factory.
"But when you think about it, they will be happy with the budget cap and happy to spend less because it keeps them in business," Mosley said.
The Briton said he was emboldened to seriously explore the budget cap issue after the FIA's forensic investigation of McLaren last year as part of the espionage scandal.
"The experience with McLaren taught us that if you can deploy the resources and you have sufficient expertise, you can find almost anything and the chances of someone doing work we could not find traces of is very small," he said.
Written: Thu, 31 Jan 2008 09:40:37
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