Ferrari team principal Mattia Binotto believes F1 is too expensive and too inaccessible for teams and young talents. He believes they must take action to reduce the costs of the sport. Formula1 teams are currently operating this season in a budget cap. Formula1 has given teams a budget cap of $145 million for the entire season.

Ferrari is the biggest company in the sport and has often voiced against introducing a budget cap. But in 2019, after they appointed Binotto as team boss of Ferrari, he clearly stated that power units in F1 are a financial problem.

According to Binotto, the cost of power units is limiting the developments and progress in the dynos.

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‘We cannot do activity on dynos because power unit costs too much’ – Binotto

While speaking with racingnews365.com, Binotto mentioned Ferrari is a healthy company, and even after the pandemic, it is healthy. He also expressed his opinion on the expenditure in the current Formula1 and why power units are so costly.

“But we know as was that expenditure in F1 is too excessive at the moment and cannot be afforded in the future because it makes no sense. As simple as that,” said Binotto.

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He added,” If you look at the power unit itself, compared to the cost of a single power unit at the time when it was normally aspirated today, it costs six times more and I think it makes no sense. We used to be capable of doing a lot of activity on the dynos because the engines were not costing too much.”

Binotto also mentioned why it has become impossible to work on dynos for development in F1 –

“Today, we cannot afford such an activity on the dyno simply because the power unit costs too much. I think we need to reduce costs, because by reducing costs, eventually there will be some more possibilities on development in the future.”

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Can Mattia Binotto guide Ferrari back-to-top in 2022?

Ferrari has been struggling in Formula1 for the past couple of years. They have not won the driver’s title since 2007 and the constructor’s title since 2008. In 2020, they endured their worst season in 40 years under the leadership of Binotto.

In 2021, they have seen an upward trend in terms of competitiveness, but they are still not at the top. 2022 season will bring a ray of hope for the Prancing horses as the regulations are changing drastically in F1. This presents a golden chance for a team like Ferrari to get back to winning ways in F1.

What do you think? Is F1 too expensive right now for teams? Comment below to let us know.