Formula 1: Monaco GP Live – Red Bull’s team principal Christian Horner feels that seven teams might miss the last four races this season if the budget cap is not raised. The current budget cap limit is $140m (£111m). Follow Formula 1 Live & F1 Monaco GP Live Updates on InsideSport.IN.
Christian Horner further added, “Seven of the teams would probably need to miss the last four races to come within the cap this year. It’s not just about the big teams. It’s teams in the middle of the field who are really struggling with inflationary issues.”
Formula 1: BIG UPDATE! Seven teams likely to miss the last FOUR races if budget cap is not raised, claims Red Bull boss Christian Horner
Horner, whose Red Bull team leads the drivers’ title, through Max Verstappen, as well as the constructors’ title, said F1’s administering body the FIA ‘needs to address’ the issue.
“The FIA has a duty of care. I know they are taking it seriously. Energy bills, costs of living, costs are going exponentially, and F1 is not exempt. Freight has quadrupled and that’s not something we can control,” Horner concluded.
Horner’s stance is backed by Ferrari, Mercedes, and McLaren. Meanwhile, the Alfa Romeo, Alpine, Haas, and Williams groups generally voted against a proposition for an inflationary change in light of International Monetary Fund expansion figures when it was proposed last month at an F1 Commission meeting of groups, the FIA, and business freedoms holder F1.
Formula 1: BIG UPDATE! Seven teams likely to miss the last FOUR races if budget cap is not raised, claims Red Bull boss Christian Horner
The cap was presented last year as one of the various ways of endeavoring to even out the field and lessen the holes between groups. It began at $145m (£115m) in 2021 and is set to decrease by a further $5m (£3.97m) in 2023.
Before the pandemic, the financial plan cap had been set to come in at $175m (£139m) in 2021. Yet, the huge groups consented to a $30m (£23m) decrease in the early months of the pandemic in light of the danger Covid was seen to posture to the endurance of the game.
Formula 1: BIG UPDATE! Seven teams likely to miss the last FOUR races if budget cap is not raised, claims Red Bull boss Christian Horner
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