Formula 1 has set a budget ceiling of $ 145 million

US, WASHINGTON (ORDO NEWS) — The organizers of the Formula 1 World Auto Racing Championship, the International Motorsport Federation and the participating teams agreed that in 2021 the series would set a ceiling on budgets for the stables. It will be equal to $ 145 million per season, sports director of the “F-1” Ross Brown said.

The new financial regulation previously suggested that the budget ceiling would be introduced not at one time, but gradually: in the first year, it was supposed to be $ 175 million per team – excluding the salaries of riders and some other items. However, the start of the 2020 season was postponed indefinitely due to the coronavirus pandemic and some stables began to insist on a more substantial reduction in spending in the light of the financial crisis.

At the same time, of course, that teams with different economic bases insisted on different scenarios: Ferrari and, according to some reports, Mercedes did not want to reduce the budget below $ 145 million, McLaren representatives intended to achieve a more noticeable reduction – up to 100 million for the season .

“We started with an amount of 175 million dollars, and worked hard to achieve this figure,” Racefans.Net quotes Brown as saying . “But in a crisis we will start with an amount of 145 million. Now we are discussing how much budgets will be reduced in the future in the coming years. ”

According to the sports director of Formula 1, teams from the middle of the field will receive more money after redistributing the prize system; “We tried to balance the whole scheme. We reduced the amount of money that can be spent on F-1, and at the same time made the prize distribution system more equal. So a good team from the middle of the field should now have a chance to get on the podiums and maybe even win. ”

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