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SOCHI, RUSSIA – SEPTEMBER 29. Owner of Racing Point Lawrence Stroll and Otmar Szafnauer. Team Principal and Chief Executive Officer of Racing Point talk in the Paddock before the. F1 Grand Prix of Russia at Sochi Autodrom on September 29, 2019 in Sochi, Russia. (Photo by Charles Coates/Getty Images)
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SOCHI, RUSSIA – SEPTEMBER 29. Owner of Racing Point Lawrence Stroll and Otmar Szafnauer. Team Principal and Chief Executive Officer of Racing Point talk in the Paddock before the. F1 Grand Prix of Russia at Sochi Autodrom on September 29, 2019 in Sochi, Russia. (Photo by Charles Coates/Getty Images)
Aston Martin CEO Lance Stroll believes the new budget cap about to be introduced in F1 from 2021 will change the sport for the better.
This will be the first time in the history of the sport that such a measure is being introduced. This seeks to redress the balance of the grid from the big-budget teams towards the small-budget teams.
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This aligns with the sport’s goal of being cost-effective and financially stable. This gives new constructors looking to enter the sport the belief that they could challenge the big boys.
Aston Martin and in turn Stroll, are very confident that they could take advantage of this and challenge for a world title.
Aston Martin CEO Stroll in favor of budget cap
In an interview, he was delighted with the introduction of this initiative. He said, “From a competitive point of view, the budget cap changes the sport dramatically.”
The Canadian said that this levels the playing field significantly with the ‘big’ teams unable to pump money.
“The big three teams were significantly outspending everyone and probably had 400-500 more staff. All of that has now gone.”
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ABU DHABI, UNITED ARAB EMIRATES – DECEMBER 13: Lance Stroll of Canada driving the (18) Racing Point RP20 Mercedes during the F1 Grand Prix of Abu Dhabi at Yas Marina Circuit in Abu Dhabi, United Arab Emirates. (Photo by Bryn Lennon/Getty Images)
The billionaire believes that Aston Martin are in with a realistic shot of winning world championships because of this. He said, “This team has punched above its weight with significantly less resources, and I sincerely believe with the same amount of people and the same budget.”
“There is no reason why world championships are not very much on the cards. It is very realistic to think that.”
The British team is looking to bridge the gap with a new facility, according to Stroll. He said, “Here, we are building a brand new state-of-the-art facility. It will be the most modern facility in Formula One.”
Will the budget cap balance out the sport?
The introduction of the budget cap is a step in the right direction for F1. This shows that the governing body of the sport is looking to build up its image of being competitive with anyone capable of beating the other on any given day.
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ABU DHABI, UNITED ARAB EMIRATES – Lance Stroll of Canada driving the (18) Racing Point RP20 Mercedes during the F1 Grand Prix of Abu Dhabi at Yas Marina Circuit in Abu Dhabi, United Arab Emirates. (Photo by Giuseppe Cacace – Pool/Getty Images)
This reduces the margin for error of the big teams with Mercedes, Ferrari, and Red Bull’s operating costs slashed from over $400 million to just under $150 million.
The consequences in terms of breaching the cap are also very detrimental that it would deter teams from exceeding it.
Read More:- How F1 will implement Budget Cap and it’s consequences
