F1 sends letter to teams; budget cap within three years down significantly
Red Bull Content Pool
F1 News
- GPblog.com
The bosses of Formula 1 have made a final offer to the teams this week to further lower the budget cap down significantly. As we now know, a maximum amount of $145 million per season will start in 2021, but it is planned to reduce that amount even further in the years to come.
The BBC, which is generally very well imported, says it has a letter from Ross Brawn stating that a reduction of at least ten million dollars must be achieved in the next three years. According to Formula 1, these measures are not only necessary to reduce the difference between the top teams and smaller teams, but also to ensure good financial management of the participating stables.
Teams are given time to work out the consequences
The sports director of Liberty Media has given the teams a few days of reflection before voting. It is still unclear whether there will be a vote or whether a meeting should be held with the team bosses, FIA president Jean Todt, F1 president Chase Carey and Brawn. This decision will be taken as soon as the Formula 1 has received feedback from the teams.
Ferrari in particular has resisted a further lowering of the budget ceiling in recent weeks. The Italian race stable feared a lot of layoffs. The team of Mattia Binotto did not want to comment in front of the aforementioned English medium. "But is understood to be assessing the potential impact of the changes as outlined in the letter."
Ferrari can not use veto
The FIA has recently created a new rule that prevents Ferrari from unilaterally deciding to draw a line through plans of Formula 1. The BBC states that in April the World Council approved an attempt by the FIA to overturn the requirement of unanimous approval for new rules with late notification. According to the International Motorsport Association, this measure was necessary because of the coronavirus. As a result, unanimity is no longer necessary and only a majority is required.