Mercedes Have No Issues with Budget Cap

Contrary to earlier beliefs, the Mercedes AMG F1 team are quite supportive of introducing a budget cap in Formula 1.

Earlier, there were reports that Mercedes team principal Toto Wolff was opposed to the idea. However, Mercedes officials have come out and denied such claims. They affirmed that as a top team in Formula 1, they are open to a budget cap.

“It (the budget cap) is still a work in progress, but there will be a budget cap. We want it,” revealed Wolff. “The challenge is how to control spending, because the teams are structured very differently. For example, we will need to agree on penalties in the event that a team deliberately breaks the rules.”

“It is very complex to put all that in place. We see the biggest challenges with the implementation.”

According to a Mercedes spokesman, the team would be willing to see the budget cap implemented. He also said that they are working alongside the Formula 1 management regarding its introduction to the sport.

The 2019 Formula One season has officially begun with the season kicking off in Australia. Mercedes and Valtteri Bottas drew first blood when they clinched the victory in the opening race.

According to RaceFans in a report last year, the aim is to have a $150 million budget by 2023. Until 2021, the budget is slated to be around $200 million for each team. Between 2021 and 2023, the budget will be reduced by $25 million per year. Driver salary and expenditure on marketing and hospitality will not be included in the mix.

“What we need to achieve in this sport now is absolutely fundamental for the very survival of certain teams,” admitted Williams F1 team boss, Claire Williams. “I don’t think that should be underestimated or taken for granted, the challenge that some of us are facing at the moment because of the circumstances in which this sport has arrived at over the past few years.

“It is incredibly tough for teams like ours and it shouldn’t be underestimated how important these new regulations for 2021 are in the influence that they could have over our teams’ survival.”