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Ferrari explain ‘soft landing' from budget cap

Ferrari have provided details of the ‘soft landing’ Formula 1 teams can offer to staff affected by the budget cap being introduced into the sport next year. With the larger constructors having to reduce costs to a maximum of $145million in 2021, some employees are having to be retrenched to other areas of the respective companies. But scope has been given to the ‘big three’ – Mercedes, Ferrari and Red Bull – to redeploy staff over a six-month period from January, thus creating what has been described as a ‘soft landing’. Ferrari team principal Mattia Binotto considers this to be particularly pertinent at a time when the global health pandemic has created financial...
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