Formula 1 lays down five-year plan with an even lower budget cap
F1 News
- GPblog.com
The budget cap for 2021 has been reduced to $145 million. Because of the coronavirus the Formula 1 saw an opportunity to lower the cap and they succeeded. In fact, soon the teams will vote for even more cuts.
Budgetcap even further down
According to Motorsport-total.com, Formula 1 has a proposal of five years. It is expected that the budget cap will drop to $140 million in 2022 and $135 million in 2023. That amount will remain in 2024 and 2025, after which the cap will be renegotiated in 2024.
It should be a simple vote, because the teams already agree with a large part of the proposal. The big teams might still struggle a bit because of the extra reduction, but with the new corona measure Formula 1 only needs six out of ten teams for an approval.
Red Bull has bad luck
Where the top teams can use their client teams as extra votes, that doesn't seem like an easy task. Steiner holds the boat off and guards Haas in particular. ''If we vote everything with them, we will go down ourselves. We have to protect Haas and no one else,'' says Steiner. So the chance that Ferrari can use the American race stable as an extra vote is very small.
With supporters Williams, Racing Point, McLaren, Renault, Mercedes and Haas, Formula 1 would already have enough power to implement the proposal. Red Bull Racing is also not a big supporter of the budget cap, but doesn't seem to be able to contribute much with the new rules.