F1 News
Haas F1 almost went under: 'That saved us from ruin'
- Ludo van Denderen
Haas F1 entered Formula 1 in 2016 with big ambitions, but little of that has been achieved after eight full seasons. Where it was hoped for a steady progression to the front of the F1 grid, the US team are still in the second half of the standings. The 2023 F1 season was again one significant setback, with a car that could not move forward and a last-place finish in the constructors' championship.
On the F1 track, Haas may not be a success (at the moment), but the team are still regularly in the spotlight. This is thanks to Guenther Steiner, who has become a cult figure thanks to Drive to Survive. The team boss now has a bestseller to his name and is in talks about his own TV show. Yet Steiner and consorts would have been nowhere to be found in the F1 paddock by now if something hadn't been introduced.
'Budget cap saved Haas F1'
If the budget cap had not been introduced in Formula 1, Haas would not be around at the moment, the Italian confessed in a Speedcafe podcast. "So would not a few other teams, because the gap just got too big, and it was all about how much money can you spend?"
The latter was limited in the case of Haas. While teams like Mercedes and Red Bull Racing spent four hundred million dollars annually, Haas had to make do with a fraction of that amount. As a result, there was no development, performance lagged, and sponsors dropped out. It seemed to be a vicious cycle from which there was no way out.
That is, until the budget cap was introduced and teams like Haas, at least on paper, had a chance to compete. At least for sponsors, this made the team more attractive to join. The subsequent failure to make serious steps forward is a subsequent concern. But Steiner believes that with a level playing field - there may be $135 million each spent by teams in 2024 - it at least offers the chance to improve.