Formula One: Formula One costs will be slashed next year with all teams making significant savings as part of a package of measures announced today to secure the sport's future.
Following a meeting of the World Motor Sport Council in Monte Carlo, the International Automobile Federation (FIA) said key savings will be made on engine costs, a ban on in-season testing outside Grand Prix weekends and a reduction in staff numbers.
Engines will be available to the independent teams from 2010 for less than £4.5million (€5million) per team per season, supplied by an independent supplier or a manufacturer backed by guarantees of continuity.
There will be no in-season testing from next year except during a race weekend and during scheduled practice.
The teams have also agreed manpower will be reduced by means of a number of measures, including sharing information on tyres and fuel to eliminate the need for 'spotters'.
The FIA estimate the list of changes for 2009 will save the manufacturer teams approximately 30 per cent of their budgets compared to 2008, with the savings for independent teams even greater, estimated in the region of 50 per cent.