Formula 1 May Force Top Teams To Spend Less Money To Make Things More Fair
Are you tired of Watching AMG Mercedes, Ferrari, and Red Bull Racing at the top of F1 for the last 10-20 years? Yea, us too. Granted there has been some great racing in there, Formula 1 is very much like a parade after the first 2-3 laps. That may change very soon.
According to reports from Racer, F1 might be looking at a "salary cap" type of situation, sort of like what we see with American sports in the NFL, NHL, and others.
"Since taking over F1 at the start of this year, Liberty Media has been keen to discuss the potential for a budget cap in order to lower costs and create closer racing. A ballpark figure of $150 million has been circulated over the past few months, and while any cap would have to be regulated by the FIA, Haas team principal Guenther Steiner says the teams are expecting to receive a firm plan from Liberty by the end of 2017.
"We need to wait until Liberty gives us a proposal for a budget cap, because there's not point going over it to go under it again," Steiner told RACER when discussing his team's future growth plans. "I don't think we're anywhere near where the budget limit will be, but still we don't want to get too aggressive and we need to grow consistently."
What this all means is that F1 could be going to a strategy where the top teams can only spend X amount per season on the team. That should, in theory, balance the power across the entirety of F1 so that the smaller teams can compete on a, uh, er, more competitive level.
The current engine regulations dont' expire until 2020, but starting in 2021 we could be seeing a drastically different Formula 1 grid. I, for one, am ALL for that. Make it happen and bring in some parity.