Carey reveals plan to introduce budget cap and introduce bans for teams that cheat

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.”

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.