London: Sahara Force India team principal Vijay Mallya feels that rising costs vis-a-vis the new regulations in 2014 may squeeze smaller teams out of Formula 1. Budget of teams will rise substantially with the introduction of 1.6 litre V6 engines next season.
There is no cost control mechanism in the sport as 11 teams are unable to agree on the amount of budget cap. Mallya said he was concerned about the current situation.
"Rather than reducing costs, one or two teams have decided winning at any cost is more important than the sustainability of the sport, so there is no resource restriction that is implemented, quite contrary to the fact that costs are going up. If you only want three or four teams in Formula 1 running three cars each you should proceed in the way it is now. But I think Formula 1 also needs the smaller independent teams as well, so everybody must also look at the common interests - not only the individual interests," Mallya said on Wednesday. .
Mallya stressed on the importance making the sport viable for all stakeholders.
"The FIA (sport's governing body) and FOTA (teams association) - when it existed in full strength - had resolved that we need to reduce the costs of Formula 1. Whether it is the commercial rights holder, the FIA, or the teams themselves, I think it is very necessary that all the important stakeholders sit across the table and find a viable solution."
Force India are punching above their weight by being fifth in the team standings, ahead of McLaren.