New $4.3 Million Solution to F1 Crisis Falls Short as McLaren Boss Warns of Gloomy Days
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via Reuters
Formula One F1 – Monaco Grand Prix – Circuit de Monaco, Monte Carlo, Monaco – May 20, 2021 McLaren Managing Director Andreas Seidl in the FIA Press Conference FIA/Handout via REUTERS
It has been increasingly difficult for the F1 teams to manage to work under the budget cap. The limit of the cap being $140 million has been constraining for teams in the 2022 season. McLaren team principal Andreas Seidl believes that most teams would go over the limit of the budget cap.
Seidl claims at least five to six teams will be over the spending limit. Interestingly, he has also cited that there might be penalties coming the way of many F1 teams at the end of the season.
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“I believe that six or seven teams would exceed the cap. The result would be that – depending on how high this exceedance is – it would be a violation of the regulations and there could have been corresponding penalties,” said Seidl. [Translated by Google]
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The McLaren team principal explained why it has been so difficult for teams like them to work under the budget cap this season. The reasons might not be what many fans would have expected.
McLaren team boss cites the reason for difficulties in working under the budget cap
The German revealed the teams are facing challenges in areas that did not expect at the start of the season. He also pointed out the economic situation of the world is a lot different currently but hesitated to give a number on how much they might exceed the budget cap.
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via Getty
MEXICO CITY, MEXICO – OCTOBER 25: McLaren Team Principal Andreas Seidl looks on from the pit wall during practice for the F1 Grand Prix of Mexico at Autodromo Hermanos Rodriguez on October 25, 2019, in Mexico City, Mexico. (Photo by Charles Coates/Getty Images)
“I don’t want to name a number. But significantly. Because there were unexpected, gigantic cost increases that have nothing to do with normal inflation. Especially in terms of freight or electricity bills, which were not foreseeable. When it comes to freight, we’re talking about 80 percent. Electricity is around 200 percent. That may not be exactly right, but it sums it up,” explained the McLaren team boss.
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It is hard for teams to estimate the global economic crisis when they signed up to work under the budget cap. Yet it is costing them in terms of development and penalties in the future.
Hopefully, F1 can give some breathing space to the teams and not be too rigid about the budget cap. Let’s see how many teams come forward and express this concern.
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