Formula 1 managing director Ross Brawn has warned teams on breaking the new budget cap regulations which will take force in 2021, as the Brit said there will be "serious consequences" if teams don't comply with the rules on the financial side. The budget cap, which we break down here, will significantly impact some of the bigger, higher spending teams on the F1 grid as they will not be allowed to spend more than $175 million a year when it comes to performance of their cars. This will be regulated closely, of course, and there will be a penalty system in place for teams breaking the rules, which can happen in three different ways. Firstly, there is the 'procedural...
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