Chase Carey has revealed that teams who go over budget will be punished by their team bosses being banned. Formula 1 is looking to introduce a budget cap in a bid to make Formula 1 more equal but trying to find the right amount is a hard task. Midfield teams are calling for a small budget whilst the bigger teams are hoping for a larger sum.
“It took us a good year to discuss the problem of costs in detail,” said Carey to Austrian channel Servus TV. “I think that the structure we have proposed will prove its worth. Our sport is complicated, we need rules that everything is reliably observed.”
“The plan is to do a test by 2020, which will have a direct impact on the process of how we can meet the costs.
“This will be a learning process for all of us, we have no illusions. My guess is that we will continue to refine the cost structure.
“But we need a starting point now. We want to change the sport to make better competition possible.”
An incentive to ensure that teams do not go over budget is to implement a ban on the bosses of teams that are caught. It will be interesting to see how successful this will be and if the sport becomes more equal.
Follow GPblog now on Twitter, YouTube, and Facebook!