The new budget cap would have left big teams like Ferrari, Mercedes, and Red Bull sweating. The new budget cap which has been approved by FIA comes into effect in 2021. Teams have already begun downsizing their staff members in order to fit into the budget cap while also ensuring their long term future in F1. The first team to do so was McLaren, which recently axed a quarter of its staff.

The smaller budget would bridge the disparity between teams and will allow for more competitive races. Even the F1 giants like Ferrari, Mercedes, and Red Bull will have to adhere to the new guidelines.

Ferrari, Mercedes & Red Bull will be big teams no more: Green

Andrew Green, the technical director at Racing Point (soon to be Aston Martin F1 team) was interviewed this week on the weekly F1 podcast: ‘Beyond The Grid.’ He was optimistic about the downsizing as he feels it gives his team a better chance of pushing the big guns.

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He said,” You gotta be small, lean and efficient. I think that’s our strength. As far as the financial side of regulations is concerned, I think they are coming to us. I think they are definitely going to allow us to be able to compete with what used to be big teams.”

He further added,” They can’t be big teams anymore. They are going to have to come back down and get much closer to our level.”

Moreover he explains why all the optimism surrounding the budget cap by saying,” We’ve been doing it for years. We’ve been at this level for a very long time and we do a reasonable job at it. We’ve put systems and groups in place that know how to work in a cost-driven environment.”

Well it seems clear that the 2021 season will be a treat to watch. After all, we have admittedly got a bit bored seeing the likes of Ferrari and Mercedes and Red Bull dominating the grid. Admit it, in our hearts of hearts we all want the likes of Williams and McLaren to return to their glory days.