Everyone has been talking about the 2014 season as the first chapter of the new "V6 era". But it is also to be the last of another kind of era, as from the 2015 season onwards, teams will no longer be allowed to spend more than $200 million per year.
"We have approved the budget cap. It is going to happen," Ecclestone confirmed to the Express.
This new budget cap should help bring down the costs of the sport. But many fear the initiative is pointless because it is impossible to police such a cap.
The latest suggestion to help make it all work comes from Ecclestone himself.
The 83-year-old's idea is to offer €1 million to anyone with information regarding an eventual breach of the budget limitation: "The plan under consideration is to give €1 million to any whistleblower whose knowledge is proved to be accurate," he said.
"We will then say to the team that the following year you will lose three of the maximum points you have scored. Then let’s see if they want to cheat," he added.