Ferrari team boss Mattia Binotto explains how important it is for F1 to strictly monitor the new financial regulations
The cost cap for the new season of 2022 is $140 million. The cost cap is preliminary to the design, development, and operation of the cars.
The 2022 season is underway with Ferrari leading the championship with 78 points while Mercedes placed second with 38 points.
Ferrari and Red Bull team bosses have expressed their concern over the potential abuse of the new financial regulations.
Monitoring the budget cap
Formula 1 CEO Stefano Domenicali discussed that there is still scope for improvements in the budget cap implementation. He states: “If those who have to regulate miss something, the whole system collapses.“
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Ferrari team boss Mattia Binotto expressed his concerns countering this. As per him, teams can find clever ways to spend additional money on developing cars.
Secondly, inflation can play a big role in deciding team factors. Changes in fuel prices can alter transportation costs. These factors are set to be discussed as per Domenicali.
Focused upgrades ahead
The Ferrari boss also expressed that the FIA has to guarantee that no team can exceed the budget ceiling. Any further development of the car can lead to constructors’ championship fight.
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The Italian also believes that budget limits and monitoring can help influence the pace of car upgrades.
Countering this, Red Bull team boss Christian Horner believes that the teams have already made strategies in their development plans. He also added that as per his understanding, there will be a lot more focused picky updates as all the teams are close to their budget cap.
