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Steiner: Budget cap is 'stake in the ground' for new manufacturers

Haas team boss Guenther Steiner says the formal introduction of a budget cap in F1 next season is "a stake in the ground" for potential manufacturers interested in joining the sport in the future. Formula 1 chiefs, the FIA and the teams have agreed to the implementation of cost cap measures from 2021, with a limit set at $145 million for next year - a $30 million reduction from the initial decided level - and a glide path threshold that will bring the cap down to $135 million by 2023. The sport's economics has failed to attract new teams or manufacturers since Haas entered Grand Prix racing in 2016, although Panthera Team Asia is planning to join the fray in 2022. Formula 1 set...
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