Formula 1 teams are keen on the budget cap imposed this year, but an adjustment to fight inflation seems increasingly inevitable.
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For the first time in the history of the discipline, the costs associated with the car’s performance are limited. The cap for this year is $140 million.
However, inflation is also affecting Formula 1, particularly in terms of charter costs and parts production. Several teams warned the International Automobile Federation (FIA) and announced that they would hardly be able to overcome the financial bottlenecks by the end of the season.
The situation is all the more complicated as every accident on the track is counted under the cover.
“The financial situation is difficult this year because prices are rising,” confirmed Franz Tost, Director of AlphaTauri, at the Montreal Grand Prix on Saturday. Parts cost more. AlphaTauri is at the limit. We mustn’t have any incidents until the end of the season, because otherwise it will be difficult. If the cap can go up a bit, we would be for it.”
Necessary
The cap was introduced to ensure greater parity within the main draw. That’s what Zak Brown, McLaren’s big boss, was dying to remember.
“Ultimately, I think the budget cap is a great thing for the sport, but we have to acknowledge some unexpected circumstances,” he said.
If the majority of teams seem to want an adjustment to the amount, Alpine’s story is different. Otmar Szafnauer is aware that talks are going on behind the scenes, but hopes for a minimal increase.
“We are against an increase this year, but I realize that there are discussions behind the scenes to increase it,” lamented the director of the French team. Prices have increased in some areas. We can measure them. If, as I fear, we come to a compromise, I think that is reasonable.”
24-race calendar: Teams trust F1
With the arrival of a Las Vegas Grand Prix from 2023, the calendar could grow to 24 races next year. If a few adjustments are made, the teams don’t see a problem.
“We support Formula 1 in finding the balance between new races and classics,” said Mike Krack, director of Aston Martin, on Saturday at a press conference at the Gilles-Villeneuve circuit. If certain races aren’t on the calendar every year, I don’t mind. We have to find new ones [courses] without having 35.
Therefore, to hold historic races such as Monaco and Spa-Francorchamps, a rotation system may need to be implemented.
“We have a luxury problem: there are more countries that want a race as a grand prix that we can put on the calendar,” argued McLaren director Zak Brown. It’s a good problem to have. After all, we have great faith in [le président de la F1] Stefano Domenicali to put together the optimal schedule. I believe there will come a time when we need to introduce a rotation system.
love of sports
Others wholeheartedly supported this opportunity, out of passion for the sport.
“We race. This is our “business”. The more races the better. So I’m hoping for 24 races,” says Franz Tost, head of AlphaTauri.
“We do work that half the planet would like to do. I love my sport and I don’t care if there are 24 or 23 races,” added Frédéric Vasseur, Alfa Romeo Director.