As a new decade dawns, yet another radical change to Formula 1 beckons. This year we’ve seen the introduction of the controversial KERS systems, slick tyres, and various changes to the cars to give them less downforce, but the 2010 regulations promise to be even more drastic and, hopefully, dramatic.

Some key changes for the coming 2010 season:

• The number of cars allowed to enter has increased to 24 to 26 (2 per team). This is a promising development given the current speculation on new teams, see our previous article on the rumours here.
• Refuelling during a race is forbidden – this one’s a proper shocker, and is being pegged as a cost-cutting exercise by the FIA. We all know how well the no-tyre-change rule went down in 2005, especially during the farcical, and now infamous, US grand prix where only 6 cars took part. Think of all the refuelling dramas over the years that we’d miss out on! It also removes a pretty interesting variable for both qualifying and the race itself. Elsewhere in the media, David Coulthard has in fact been supportive of a return to the pre-1994 stance of carrying all your race fuel:  “From my point of view a bigger drawback of refuelling is that it detracts from the racing by turning the grand prix into a series of low-fuel sprints between pit stops.” Either way its pretty controversial, and certainly a change that will split opinion in the paddock and amongst fans.
• Tyre blankets and tyre-heating devices are banned – they proposed banning these for 2009 but got into a mess about safety and minimum tyre pressure arguments. It has been suggested that the cold tyres on Ayrton Senna’s car contributed to his fatal accident in 1994. The sport has come a long way in terms of safety over recent years, and it is worrying that cold tyres potentially hold such a risk (although they do slow the cars down considerably). Perhaps Bridgestone have developed a compound which works better in the cold, we shall have to wait and see.

The new Cost Cap Regulations -

• An optional cost cap of £40 million per year – basically the teams can ‘opt in’ to the scheme and keep within a tight budget, but receive more technical freedoms.
• This figure excludes, amongst other things, engine costs (for 2010 only), drivers’ pay (that one should go down well), marketing/hospitality, and FIA fines and penalties (McLaren audibly breathe a sigh of relief).
• Technical freedoms: movable front and rear wings, an engine which isn’t subject to any rev limit, unlimited out-of-season testing both on track and in wind tunnels. These incentives are aimed to be significant enough that teams will opt to come into the Cost Cap scheme.

So what does this mean for the sport? For those who opt into the budget-scheme it will mean a lot of counting the pennies, but also a real opportunity to be competitive on a relatively modest budget. We say ‘modest’, so lets make a quick comparison to give you an idea of what £40 million can buy you… the Royal family!

Indeed, according to Reuters the Queen & co cost the taxpayer that exact sum last year. Apparently championship contender Jenson Button is also worth £40 million, though its highly unlikely he’ll be starting his own team anytime soon given the current good form of the Brawn car.

The big-moaners from this will, of course, be big-spenders Ferrari. As our newest correspondent BabyBadger noted (see the full article here) Ferrari can’t seem to do much with tons of cash, so what are they going to do with a mere £40 million if they opt for the budget cap?

The bottom line is the racing. If the new budget-F1 will deliver exciting wheel-to-wheel racing then what does it really matter anyway? Hell, the FIA could go all-out and switch the current Mumm champagne on the podium with some Asda-branded bucks fizz. Classy stuff.

If you do fancy reading the whole press release you can find it here.