Renault set to back budget cap

Renault’s chief technical officer Bob Bell says that Renault would “absolutely behind” a budget cap if it were to be introduced for the 2021 season.

There have been talks over a budget cap of £150 million per team being introduced in order to level the playing field in F1.

In recent years, plenty of teams and manufacturers have quit the sport due to the budget needed to keep competitive.

HRT, Caterham and Manor have all folded, whilst Lotus were taken over by Renault.

Cosworth engines are also no longer used.

Bell said: “Renault is in favour of a reduction in the amount of money it costs to go Formula One racing and be successful.

“At the minute the disparity in the costs between the teams’ income and expenditure is huge.

“It shouldn’t cost as much as it does to be successful in Formula One

“Realistically Formula One needs to get itself to a point where any team on the grid can sustain its financial situation.

“We need to find a way to pull costs down and level the playing field.

“If it’s a revision to the rules to make it cost less we’d be up for that.

“We’re absolutely behind and initiative like that, if it’s a cost cap then we’ll be up for that.”