Formula One teams have unanimously agreed to a series of cost-cutting measures.
Former world champion Sir Jackie Stewart has blasted Formula One chiefs Bernie Ecclestone and Max Mosley, saying the time had come for them to step aside.
Max Mosley, the head of world motor sports' governing body FIA, is leaning toward running for a fifth successive term despite a damaging sex scandal.
Formula One world champion Lewis Hamilton is against FIA president Max Mosley's idea of using a standardised engine for all F1 cars.
World motorsports governing body The FIA has reached agreement over radically reducing costs in response to the present global economic crisis, FIA announced.
Honda has announced its shock withdrawal from Formula One over the global financial crisis, ending an involvement which began in the 1960s.
Frank Jordans FIA and the 10 Formula One teams have reached a deal to cap the cost of engines supplied to smaller teams to save money during the global financial crisis.
Formula One supremo Bernie Ecclestone has played down fears that major car manufacturers will pull out of the sport over the introduction of a standard engine.
Formula One chiefs, concerned by the spiralling cost of motor racing in the current world economic downturn, will hold talks this month to discuss the crisis.
Formula One will only survive for one more year unless drastic spending cuts are implemented, FIA president Max Mosley has warned.
The Canadian Grand Prix has been dropped from the 2009 calendar, leaving North America without a Formula One race for the first time in 43 years.
The president of motorsport's world governing body FIA, began a 'spin campaign' at the Italian Grand Prix that revived talk of his involvement in a sex scandal.
Paul Logothetis Embattled FIA president Max Mosley has emerged at the Monaco Grand Prix, making his first Formula One appearance since being embroiled in a lurid sex scandal.