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Motorsport Boss Mosley Hints Others May Follow Honda
    2008-12-05 21:17:10     Xinhua
Motorsport boss Max Mosley has warned that there is a "serious danger" another car manufacturer could follow Honda out of Formula One.

Mosley, president of governing body the International Automobile Federation (FIA), said Honda's exit was "very sad but it's not entirely a surprise".

Mosley said it was imperative the sport cut its soaring costs - with top teams spending about 300 million pounds a year, the BBC said.

Mosley derided the team's cost-cutting proposals as "fiddling about".

The Formula One Teams Association (Fota) met on Thursday to discuss its own proposals and said they had agreed to "substantial cost-cutting for 2009 and 2010, and additional initiatives to improve the show".

Fota also agreed a "new, low-cost engine will be introduced in 2011".

The organisation said it would submit these proposals to the FIA, but Mosley said on Friday that they did not go anywhere near far enough.

"If we don't cut costs, we would lose one team after another and we would end up with no teams at all, or a grid that lacked all credibility," said Mosley

He described Honda's decision to quit F1 and try to sell its team as a "very significant warning".

"If the teams don't notice now what's happened, you have to abandon all hope for them," he added.

"The teams who met are all subsidiaries of these big companies and they could get a fax in the morning saying: 'We're stopping this, which is effectively what happened with Honda.

"So if they don't wake up to it now, they'll probably get a nasty shock in the future.

"But our job is to take action to make sure that won't happen. That's why we've sent out a letter to the teams this morning setting out or plans to get the costs right down."
 
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