F1 News
Cost cap important for a "healthier sport"
There is a clear financial gap between the top three teams and the rest of the field and Chase Carey believes Formula 1 needs to introduce a cost cap for a "healthier sport".
A cost cap is one of the biggest features discussed ahead of the proposed regulation changes to be introduced for the 2021 season. The cap has been reported to be $175 million in an attempt to level to the playing field and to make the sport more of an enticing product.
The deadlines for the regulations to be confirmed is October and Carey believes it is paramount a cost cap is introduced to the sport.
"Clearly one of the goals in terms of the cost cap is to create a healthier sport," he told Wall Street analysts.
"We've talked about the competitive goals, but it is equally important that the cost cap creates a business model that is healthy and growing and positive for our existing teams, and potential new teams coming into it.
"That has been enforced as we've had discussions with potential new teams.
"All have looked at steps in terms of cost discipline, and probably a more balanced revenue distribution, as being cornerstones to creating what they think is an exciting opportunity."
