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F1 teams agree budget cap cut - talks ongoing to slash it further
Formula 1's 10 teams have agreed on a cut to the budget cap due to come into force in 2021, with talks ongoing to lower it further. The cap had been set at $175million, but following recent discussions given the decimation of the season so far caused by the coronavirus pandemic, and the knock-on effect of a severe drop in revenues, that has now been lowered to $150million. Article continues under video McLaren CEO Zak Brown, however, feels for the preservation of all the teams, and the sport as a whole, the cap needs to come down to $100million. "You have everyone at $150m, and the strong majority - including one of the big teams - willing to come substantially under $150m,"...
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4y ago from GPFans.com
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