The FIA has announced that they hope to finalise some cost-control measures this month for 2013 that will limit how much teams can spend.

With some teams getting anxious about the rising costs of competing in Formula 1, despite many measures in the past to reduce the costs including the banning of in-season testing, the FIA is looking to do something about it.

By the end of June, the Formula 1 governing body the FIA hope to have finalised the measures that will come into place from next year. The FIA statement reads:

“At their request, the FIA is having active discussions with teams regarding cost control and any amendments to the technical regulations resulting from a further limit on expenditure on the chassis will be submitted to the WMSC via a fax vote before 30 June. The intention is to help all teams participate in the championship in a fair and equal manner.”

The date of the 30th of June is quite significant because any decision made after this time would require unanimous support, whereas before then decisions only require majority support. Therefore it shouldn’t be too surprising that the FIA want a final decision by then as some of the top teams in the past have been stubborn about restrictions over their spending.

The FIA is also looking to finalise the Concorde Agreement in the coming weeks, which in its current form comes to an end this year. The F1 governing body added that due to the ongoing discussions, the deadline for entries into the championship has been delayed till September.

Source: Autosport