The coronavirus crisis has ‘forced’ to reduce it to 30 million
Small teams will benefit from a ‘fairer’ prize distribution
Formula 1 teams have reached an agreement to reduce the budget limit for the 2021 season, as confirmed by Ross Brawn. It was originally set at $ 175 million, but the coronavirus crisis has “forced” it to be reduced to $ 145 million – about 133 million euros at the current rate.
During the past week, the bodies responsible for the premier category of motorsports “met” with the teams to face this global crisis. One of the items on the agenda was the budget limit, which was agreed to be reduced by up to $ 30 million for next season.
“We started at 175 – million dollars – and it was a long battle to get there. With the current crisis, we will start at 145. The negotiations are now focused on knowing how much we will be able to reduce it in the coming years,” said Ross Brawn, in statements for the Sky Sports media.
It goes without saying that the budget ceiling has been a controversial issue in recent days, since Ferrari was not willing to drop from the 145 million dollars by 2021 – although it was for the future; on the other side were McLaren and other teams, ready to go as high as $ 100 million.
This means that those of Maranello have won this ‘battle’, but Ross Brawn warns that the teams of the middle group will also take their portion of the cake: from next year, the distribution of money in prizes will be much more equitable.
“Mid-group teams, in particular, will be much better off in their share of the prize. Therefore, everything is being balanced. We have reduced the amount of money that can be spent on Formula 1 and improved the distribution of prizes. between the teams. ”
“So a good mid-group team should be able to get podiums or maybe even a victory, and it should generate a small profit. And if we can achieve that, then we have a very sustainable future,” said Brawn to conclude.
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