8 Oct 2008

Mosley says F1 future in doubt

10:37 am on 8 October 2008

The FIA President Max Mosley says Formula One will only survive for one more year unless drastic spending cuts are implemented.

His views come during a global credit crisis that appears to be hitting a number of sports.

Mosley, who is to stand down next year, said the sport's future was under threat because of the rising costs of running a team, highlighting the fate of the Super Aguri team.

The Japanese outfit dropped out of the championship after the Spanish Grand Prix due to a lack of funds - and Mosley fears at least two more teams may also have to withdraw from the championship.

Mosley says simple cost-cutting measures would help the sport survive, even with the enormous financial clout that Ferrari, McLaren and BMW are able to wield over their competitors.