News Details
FIA ratifies reduced budget cap for 2021, further cut from 2022
Formula 1’s budget cap has been reduced for the 2021 season
following a unanimous agreement between all 10 teams, the FIA’s World Motor
Sport Council confirmed on Wednesday. After years of negotiations it was announced last October
that a cap of $175m per team would be implemented annually from 2021, in a bid
to reduce spiralling costs in the championship. But the coronavirus pandemic prompted a push from some
quarters to reduce the cap even further, and a limit of $145m for 2021 has now
been agreed and ratified. ADVERTISEMENT This will be reduced by $5m, to $140m, for the 2022 season,
and then by another $5m, to $135m, for the 2023 to 2025 period. Related Posts How do Formula 1...
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3y ago from MotorsportWeek.com
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