Thursday, February 2, 2023

F1 teams limited to a $145 million budget cap from next year

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FIA said in a statement that the cap will be scaled down to $140 million in 2022 and $135 million for 2023-2025, based on a 21-race season. It excludes driver salaries and engine costs.

“Formula 1 wins today. This is a crucially important moment for our sport,” said McLaren team chief executive Zak Brown, who had pushed for a lower cap. “F1 has been financially unsustainable for some time, and inaction would have risked the future of F1 and its participants.”

F1′s finances have taken a significant hit with t he first 10 races of the season either canceled or postponed because of the coronavirus pandemic.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: Fox Sports

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