Todt: "The cost of F1 is still too high"

08-07-2020 17:33
by GPblog.com
General
Todt: The cost of F1 is still too high

As of 2021, a budget cap will be introduced that sets a maximum spending limit of $145 million. After that, that ceiling will go down a little bit each year, but if it is up to the president of the FIA, that is not enough on its own.

Budget cap too high

Jean Todt has indicated that the Formula 1 teams will have to reduce their spending even further in the longer term. The first step is 2021, when teams will also be checked on their spending, which must remain within the maximum of 145 million dollars.

This is a budget cap that is lower than originally intended, the original budget cap was $175 million. However, the pandemic provided that extra push, bringing them to 145 million. This excludes engine development, salary costs and marketing.

With that, the large teams will still be well above the budget cap and Todt believes that the teams will have to limit their spending even more in the coming years, Motorsportweek writes.

Too high

"I feel that Formula 1 costs are still too high, still too high, because we are talking or concentrating on the cost cap. [The figure of $145m] did not include the exclusions, and in the exclusions you have quite a lot, it does not include costs for the engine manufacturers [and] the engine development."

"Probably for the bigger spenders, the cost of Formula 1 it is over three times the figure of the cost cap, so it’s still very high. ut I would say it’s a start, you need to start from somewhere, and the regulations are changing, a lot of standardisation has been planned, so clearly it goes in the right direction, and it will absolutely need to go in this direction."

Finally, Todt emphasizes that because of the coronary pandemic, things have been achieved that would otherwise be much harder to achieve.

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