FIA world Council approves budget ceiling for formula 1

The world Council of Motorsport world governing body FIA has approved the of the formula 1 Teams have agreed the introduction of a further reduced budget ceilin

FIA world Council approves budget ceiling for formula 1

The world Council of Motorsport world governing body FIA has approved the of the formula 1 Teams have agreed the introduction of a further reduced budget ceiling. This is the FIA announced on Wednesday, according to electronic Voting. After week-long discussions, the Teams of the king's class had made last Friday, in a landmark decision in the fight for their future.

The ceiling is already from next year, to 145 million US-Dollar (133 million euros). In the following years, it continues gradually. 2022 for the team available Budget is $ 140 million, and decreases in the period from 2023 to 2025 to 135 million.

"The formula 1 to win today," said McLaren boss Zak Brown: "This is a critical Moment for our Sport. The formula 1 has for some time been financially unsustainable, and inaction would have threatened the future of formula 1 and their participants."

The new agreement to help save the existence of the smaller teams, to increase equal opportunities and the competition in the field, new Teams, attract and, thus, overall, the Fort of the formula 1 are secured.

The previously planned Budget cap for 2021 were $ 175 million, the teams behind the big Three of Mercedes, Ferrari and Red Bull had these reduced in the light of the corona crisis like 100 million. Especially Ferrari was here, however, as a vocal opponent, with the compromise, the Scuderia seems to agree.

in addition to the agreement on the upper limit further decisions to improve the Show: the less successful Teams should be given in the future, relatively more time to the development of the aerodynamics, in addition, to contribute parts to reduce the cost.

An approximation of the level between the top, the middle and the end of the start field is in the formula-1 urgent need: Since March 2013, each race victory went to Mercedes, Ferrari or Red Bull. At the time, Kimi Raikkonen had won in the Lotus of the Grand Prix of Australia.

at the Latest with the current crisis, several Teams are now also before the economic collapse. The formula 1 hopes to start their season at the beginning of July with the spirit of the race in Austria at last and so this year, at least the TV revenues to be lubricated.

sid
Updated Date: 28 May 2020, 09:27

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