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Mosley: Current spending isn't sustainable

Updated: May 9, 2004, 9:52 PM ET
By Dan Knutson | Special to ESPN.com

BARCELONA, Spain -- Formula One seems to have finally woken up to the fact that there is not an endless supply of money out there. Normally the teams can't agree on anything, but if there was one theme that came out of the Monaco summit on May 4, it was that it's time to slash the ludicrous amounts of cash the teams are spending.

How ludicrous?

FIA president Max Mosley revealed that the engine manufacturers are spending a total of $1.2 billion a year on their F1 engine programs. ...

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