Teams to undergo budget cap ‘dry run’ in 2020

Aug.12 (GMM) Formula 1 will carry out a “dry run” of the new budget cap rules next year, CEO Chase Carey has revealed.

Actually, the $175 million per team annual budget cap will only be enforced from 2021, but Carey says the teams are supportive of its implementation.

“Some teams had concerns or issues going on but they are increasingly supportive,” he said.

One of the biggest concerns is that the budget cap will be difficult to police, especially as the structures of some of the bigger teams in particular are highly complex.

“We wouldn’t have done it if we didn’t think it was enforceable,” Liberty Media’s Carey said.

“In 2020, all the teams will participate in effectively a dry run in terms of shaking out the bugs of accounting for the costs,” he added.

Carey said that one of the biggest benefits for Formula 1 is that controlling costs may attract new teams to the grid.

“I’ve talked about the competitive goals,” he said, “but it is equally important that we support a business model that is positive for existing teams and potential new teams coming in.”

Carey revealed that “discussions with potential new teams” are already taking place.

Related News

  • 19/03/2019 Mercedes not opposed to budget cap – Wolff Mar.19 (GMM) Mercedes is not opposed to the introduction of a budget cap in formula one. Earlier, based on an interview in Frankfurter Allgemeine Sonntagszeitung that was reproduced only […]
  • 26/07/2019 Ferrari could veto 2021 budget cap – rumour Jul.26 (GMM) Claire Williams is not commenting on rumours that Ferrari may "veto" the 2021 budget cap. Although not yet announced, it is believed the teams have all agreed with the FIA […]
  • 16/02/2018 F1 needs DRS for now – Brawn Feb.16 (GMM) Although no fan of the overtaking aid, Ross Brawn says 'DRS' is staying in formula one for now. Recently, Liberty Media bought defunct F1 team Manor's last wind tunnel model […]
  • 23/08/2018 ‘Soft’ budget cap set for 2019 – Brawn Aug.23 (GMM) Ross Brawn says a budget cap is arriving in F1 as early as next year. The controversial issue of mandatorily limiting budgets has been mooted for years, but sporting boss […]
  • 22/05/2017 Liberty to reveal F1 budget cap plan May 22 (GMM) The idea of team budget caps in formula one is not dead yet. With the arrival of Liberty Media, ideas about how to improve the competitiveness of the field are running thick […]
  • 08/03/2019 Driver with fastest lap to get point in 2019 Mar.8 (GMM) Liberty Media is contemplating a significant rule change for 2019. Roger Benoit, a veteran correspondent for the Swiss newspaper Blick, revealed: "Liberty Media wants to […]
  • 12/11/2016 Liberty expects teams to buy into F1 Nov.12 (GMM) F1 teams are expressing interest in buying into the sport, Liberty Media CEO Greg Maffei has revealed. As Liberty moved to take over from majority owner CVC, it emerged that […]
  • 10/05/2017 Liberty bought F1 to end ‘crisis’ – Carey May 10 (GMM) Liberty Media decided to buy F1 because it saw potential amid the sport's "crisis". That is the claim of Chase Carey, who has replaced long-time F1 supremo Bernie Ecclestone […]
  • 21/03/2017 Ousted Ecclestone ‘couldn’t change’ – Carey Mar.21 (GMM) New F1 chief Chase Carey says he is still in contact with his ousted predecessor Bernie Ecclestone. But his comments are at odds with the news from 86-year-old Ecclestone […]
  • 28/06/2018 Hockenheim not on 2019 calendar Jun.28 (GMM) There will be no German grand prix at Hockenheim in 2019. The circuit is hosting a race next month, but organisers have been unable to reach a new deal with F1 owner Liberty […]