Steiner realistic: "Budgetcap will not directly create equal opportunities"

From 2021 there will be a budget cap in Formula 1. From next year onwards, the teams will have a limited amount of money that they can spend per year. For many this is good news, because it indirectly means that the field will be closer together. For Haas the budget cap is an important reason to stay in Formula 1 in the future, team boss Guenther Steiner says.

In a video call with various media, Steiner says he is happy with the budget cap. "It's good for the sport. It doesn't directly lead to equal opportunities for everyone. For example, we will have to do it first with amounts up to 145 million". Steiner is cautiously positive about the consequences of the budget cap. "The budget cap ensures that the difference between the teams is not 150 million dollars, but 20 million dollars'', the german outlet Auto, Motor und Sport quoted.

Break-even for the team

For the future it is important for Haas to increase their revenues. "The big teams can easily make money by keeping their sponsors with them. So the distribution of the prize money has to be fairer. It is my job to make our business model sustainable". Steiner expects that due to the smaller differences in budget, a good strategy within the management can be important.

"There is a chance to beat the top teams by having good management", says the team boss of the team. "If we can break-even, Gene (Haas) will be happy to sign the new Concorde agreement. His goal is still to stay in Formula 1 with the team", Steiner concludes.