Abiteboul: "The cap is a problem for us"

Cyril Abiteboul has confirmed the budget cap set to arrive in Formula 1 will be a problem for Renault. He goes on to confirm he is desperate for some clarity on the situation before it becomes too late.

A budget cap, set to be around $150 million, is expected to arrive in 2021. Abiteboul, boss at Renault tells RaceFans how concerned he is about the future finances.

"The cap is really important, because with the cap if we have to be at around $150 [million], we are already above 150. It's a problem, it's a small problem for us, [but] it's a huge problem for [Red Bull], for Ferrari," Abiteboul told Racefans.

Teams will begin planning for the 2021 season soon. Financial situations and budgets are often dealt with first, but F1 hasn't given any further information to teams and drivers. He insists the budget cap is a good thing, but it needs sorting fairly quickly.

“We need clarity with that immediately. Otherwise what is going to happen is that all those teams, including us, will say ‘It’s too late’. Then the budget cap will not happen. So I think priority number one is the budget cap and money distribution," Abiteboul added.

This all links back to the point Abiteboul made in the press conference. Perhaps Formula 1 are introducing too many changes at once and instead should stagger the introductions. Whatever happens, they need to get on with it.

Let us know in the comments what you think about the timing of the implementations.