Todt: “For about seven out of 10 teams it will have no influence"

Jean Todt is optimistic that the budget cap set to be introduced in 2021 is a good thing but admits it is not going to affect the majority of the teams.

The budget cap is one of the biggest and most talked-about changes being introduced to the sport in 2021. The regulation changes are seen as Liberty Media's first big impact on the sport, having bought the product in 2017.

The deadline for the confirmed changes is set for the end of October and with the deadline rapidly approaching Jean Todt is glad the cap is finally agreed on.

“The most important thing [is] that finally we agreed on the principle,” Todt said as quoted by RaceFans.

“Still it’s something I’ve been mentioning already [the] budget cap I feel is too high.

“For about seven out of 10 teams it will have no influence. It will have only influence on three teams. But still, it will diminish the gap between those seven teams and the three others. So it’s a good thing.

“Some parts have been excluded, but I think the important thing is that it’s a first step. It was to initiate the principle. Then once it is initiated it will allow us to move after that to the second step."