Renault "massively in support" of budget cap

24-03-2019 12:09
by Nicolás Quarles van Ufford
General
Renault massively in support of budget cap

Renault team principal Cyril Abiteboul has underlined the importance of introducing a budget cap with the new regulations in 2021, as the Frenchman explained the financial side of F1 has to be changed more so than the actual regulations within the sport.

Since their return to Formula 1 as a works team in 2016, Renault have enjoyed a steady upward trajectory. Last season, they finished in fourth place, directly behind the big three teams of Mercedes, Ferrari and Red Bull Racing

However, the gap between themselves and Red Bull in third place was over 300 points, which shows the massive difference between them and a midfield team like Renault.

The cause of this comes down to the difference in budget; Mercedes and Ferrari operate on a budget that's simply not fair compared to a team like Haas F1. Abiteboul, therefore, stresses the importance of a budget cap.

"There is a lots of dialogue between the teams and F1 and the FIA, in particular on the budget cap," Abiteboul told Autosport in regards to the new regulations.

"That's a very complex set of new regulations, and something that did not exist.

"So every day, every week, we are making progress to address some of the concerns. As far as Renault is concerned because we think that something needs to be seriously done to contain the costs to be competitive in F1, we are massively in support of the budget cap.

"Is it the perfect answer? Maybe not. Is it the best answer? Probably. That's why we're working very actively to make it as robust as possible, and according to what will be our assessment at the end, we will see if we can be in favour, and [if] we think it is a proper deterrent, or not. Lots of progress is being done on that aspect."

The French boss then explained that when making these rules for a potential budget cap, clarity is needed for the teams, sooner rather than later. 

"I think we all accept that everyone needs to have some form of clarity before the summer," he explained.

"For me, the three things that can't wait are the financial distribution, the governance, and the budget cap - anything that's related to the business, and the sustainability of the business model is important.

"That's what will define whether or not F1 is still a compelling and attractive platform for 2021.

"Then I would almost say that the set of regulations is secondary."

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