- Limit of £119m next year set to keep sport sustainable
- Spending to be further reduced on a sliding scale
Formula One teams have agreed to impose a new budget cap from 2021. After lengthy negotiations, F1 will be decreasing spending on a sliding scale over several years. The cap will be set at $145m (£119m) in 2021, dropping to $140m in 2022, then $135m for 2023–25. A further review will then take place to establish the ceiling for 2026 and beyond.
The cap is seen as a vital component of ensuring the sport remains sustainable in future and in pursuit of levelling the playing field across the grid, which is currently skewed by major spending differentials. F1 and the FIA have been pursuing a spending cut for some time but the financial implications of the coronavirus pushed the sport to go further than expected.Continue reading...
Sebastian Vettel clinched his third world title in thrilling grand prix that deserves to be ranked among the best
Formula One comes under scrutiny like no other sport. Its glamorous excesses aside, one boring race and the pitchforks come out. A dull Wimbledon final or Champions League climax doesn’t render tennis or football as a whole a pointless parade but F1 is always up against it.Continue reading...
F1’s hiatus offers the Red Bull chief time to take stock but the racer within him cannot wait to hear the roar of grand prix engines again
What happens when the maelstrom of Formula One gives way to quietude and contemplation? When the absence of relentless competition, pressure and intensity leaves only a disconcerting chasm it presents unfamiliar territory. For Red Bull’s Christian Horner it has been an opportunity too.
“The positive is it makes you appreciate the people around you more,” the team principal says. “Friends and family, situations like this make you take stock because this virus can affect anybody and there is nothing more precious and valuable than life. Particularly your loved and close ones.”
We are doing all sorts of things to keep in contact – online fitness classes or pub quizzes – to keep that sense of teamContinue reading...
- Team cap would gradually reduce to $135m by 2023
- $145m figure is in place for 2021 season only
Formula One has presented its long-term roadmap for budget reduction to the teams, with a decision expected next week. It is understood that figures include a cap set for $145m in 2021, coming down to $140m in 2022 and then to $135m for 2023-25.
The targeted numbers are seen as acceptable to midfield teams such as McLaren but agreement is far from a given, with potential pushback at the scale of the proposed cuts possible from Ferrari and Red Bull.Continue reading...
- Red Bull principal says F1 owners will act to protect business
- Horner: ‘I believe they will pay to ensure teams are still around’
Christian Horner, the Red Bull principal, believes Formula One’s owners would step in to prevent any team from going under to ensure the survival of the sport. With race income severely curtailed by coronavirus, Horner insists Liberty Media is aware of the risk and would prop up competitors if necessary.
Nine grand prix meetings have been called off this season and with race fees a key source of income, there is genuine concern that smaller teams may not have the resources to survive. F1 fields 10 teams and has no plans for any new entries. Losing even one or two would be a major blow to the world championship.Continue reading...
Model by Renault and Red Bull F1 teams found unsuitable for complex treatment of coronavirus
A plan to buy thousands of medical ventilators from a group including the Renault and Red Bull Formula One teams has been cancelled amid signs that symptoms specific to Covid-19 could make building new devices more difficult than hoped.
The NHS needs to increase its stock of ventilators from 10,000 to at least 18,000 and the government has been scrambling to procure enough in time for a peak of cases expected by the end of the month.Continue reading...
- Season break is ‘ideal time’ to get virus, says Marko
- Idea ‘has not been well received’ by his superiors at Red Bull
- Coronavirus – latest updates | See all our coronavirus coverage
Red Bull motorsport chief Helmut Marko has revealed he suggested the team’s drivers should try to become infected with coronavirus as it is the “ideal time” with the season on hold.
The start of the 2020 F1 season has been decimated by the global pandemic, with the opening six races of the year either cancelled or postponed. As things stand, the first grand prix of a truncated season will be in Canada on 14 June but that will almost certainly change in the coming days.Continue reading...
Formula One fires up in anger for the first time this year in Melbourne on Friday but there will still be few givens for the forthcoming season. Yet of one central player in the forthcoming drama there can be absolute certitude. Lewis Hamilton enters his 14th year in F1 motivated, focused and in the form of his career.
Extraordinary records are within Hamilton’s grasp and his determination to prove himself the best is beyond doubt. Yet what he and every fan wants is a real fight. F1 needs it and, if the British driver is to match Michael Schumacher’s achievements, how much sweeter would it be to do so after a blow-for-blow battle.Continue reading...
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