Two seasons ago, in 2021, the FIA introduced a $145 million budget cap—a spending limit for teams throughout the season—to help level the field. And for the 2023 season, the FIA reduced it to $135 million. But how would the budget cap help in bringing the field closer? Teams with resources are forced to restrict their spending, and teams that aren’t as rich benefit from the restrictions placed on the bigger teams. But according to Lewis Hamilton, it hasn’t worked.

Before the introduction of the cost cap, Mercedes was dominating the field. But since 2021, Red Bull has taken a giant step forward, and now, it’s thriving, leaving Mercedes behind in its dust. Seemingly, Mercedes has struggled to cope with the spending restrictions, while Red Bull not only did well with the limit but also nailed the 2022 regulation changes to separate itself from the field. While discussing this situation at the British GP, Hamilton said, as quoted by formulapassion.it, “[The FIA] changed the rules and put in this budget cap, which was supposed to level the field, and it didn’t. So what I mean is that we have to keep talking about it.” 

That hasn’t been the case, exactly. Yes, Red Bull is far ahead of everyone else. But the cost cap has helped bring the rest of the field closer, with four teams fighting right behind Red Bull, including Mercedes and Ferrari. With Red Bull so far ahead, teams are trying to close the gap to it by bringing upgrades and developing their cars. But it’s evident that the budget cap has made progress slower. And that’s where Ferrari Team Principal Frederic Vasseur seconded Hamilton’s comments.

In an interview at Silverstone, Vasseur said, as quoted by as.com, “The biggest determining factor [for progress] at the moment is the spending limit. For that reason, you can’t create a completely new project within the same season. It could have been done a few years ago, but now thinking about that possibility is already impossible.” [translated via Google]

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While Mercedes did have to revamp the W14 entirely, it created a significant dent in its spending. Despite their slow development, both teams have revealed that they’ve already started working on next season’s car, considering the regulations will remain the same in 2024, and what they learn this season will help them next year.

Lewis Hamilton & Co. and Ferrari are turning their focus to 2024

A few weeks ago, Lewis Hamilton suggested to the FIA that it should put a restriction date before which teams can’t start developing their cars for next season. He said this after Red Bull revealed it’s already focusing on 2024. Considering how far ahead it is this season, Hamilton believes that the Milton-Keynes team has an unfair advantage since its already shifted focus. Despite this, Mercedes and Ferrari have also started working on their 2024 challengers.

They’re using the developments they’re making this year to help them for 2024. As per Vasseur, Ferrari is “already working and focused on next year’s project as a team, and we are working hard to make great progress.” Mercedes’ technical director, James Allison, also revealed Mercedes’ plans, stating, “There are improvements we’d like to make to our current car that we know will apply to the 2024 car as well. We don’t have the feeling of wasting money. The feeling is that with these updates, we are investing in both seasons.”

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WATCH THIS STORY | After Shelling Out $89,000,000 for Mega Revamp, Lewis Hamilton & Co. Prepare for More “Fundamental Changes” Despite $135,000,000 Ceiling