News Details
Smaller F1 teams target budget cap reduction to $100M!
Formula 1's smaller teams, who are most vulnerable to the sport's economic downturn following the coronavirus crisis, are seeking a reduction of next year's budget cap from $170 to $100 million. A disrupted 2020 championship which may not get underway until the late summer is set to inflict massive pain on F1, with revenues falling across the board for Liberty Media, the sport's commercial rights holder, but also for the teams which are preparing for a significant drop in financial revenue. Formula 1 is attempting to mitigate the effects of the shortfall with a series of measures destined to reduce costs for the teams. Szafnauer: 'Crucial' for smaller teams to have unchanged cars for 2021...
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