News Details
Formula 1 approves minor increase on budget cap
Formula 1 approved a small increase to its $140-Million per team annual budget cap on Friday to help with the burden of inflation and rising energy and freight bills. The change was announced by the governing FIA after a meeting of the Formula 1 commission at the Austrian Grand Prix and was approved by the required majority and nine of the 10 teams. 'Rapidly increasing inflation rates since the end of 2021 have affected Formula One teams, and it is the opinion of the FIA and Formula One that this creates a risk of noncompliance with the financial regulations if actions are not taken,' the governing body said. The governing body's proposal allowed for 'indexation at a limited rate of 3.1%'....
Full Story »
Full Story »
2y ago from GrandPrix247.com
0
You May Also Be Interested In...
F1 makes decision on calls for budget cap increase
A meeting of the F1 Commission has resulted in a decision being made...
2y ago from PlanetF1.com
Formula 1 teams to discuss cost cap adjustment in...
Formula 1 teams will discuss a cost cap adjustment, to reflect soaring...
2y ago from GrandPrix247.com
Budget cap increased, technical directive on...
On Friday morning in Austria, the FIA and Formula One teams met to...
2y ago from GPBlog.com
F1 teams get indexed budget cap increase to stem...
Formula One Management, the FIA and the sport's teams have agreed on a...
2y ago from F1i.com
Elsewhere On The Network
Popular On MGPToday.com
Ducati 'bothered' Bagnaia is trailing Martin despite...
No description available...
20h ago from Motorsport.com
Marquez rues mistake as Thailand MotoGP win slips...
No description available...
1d ago from Motorsport.com
Andrea Iannone to replace Fabio Di Giannantonio at...
VR46 Racing Team have announced that Andrea Iannone will replace Fabio Di...
1d ago from MotorsportWeek.c...
The spotlight already on KTM as Acosta’s star shines...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Mexico GP promoter confirms talks with IndyCar for...
No description available...
1d ago from Motorsport.com
IMS debuts 11 special Taylor Swift helmets to...
Indianapolis Motor Speedway revealed 11 special racing helmets on Friday,...
4d ago from MotorsportWeek.c...
Pushing for innovation: IndyCar's need for an...
No description available...
5d ago from Motorsport.com
Graham Rahal hoping better luck helps him rebound in...
Graham Rahal believes a continued streak of bad luck has played a major...
1w ago from MotorsportWeek.c...
Popular On TotalWRC.com
Didier Auriol entering Rally Japan, first WRC start...
1994 World Rally Champion Didier Auriol will run the 2024 season finale in...
11h ago from TheCheckeredFlag...
Toyota to fight for WRC title without Rovanpera in...
No description available...
1d ago from Motorsport.com
Lancia launches its return to rally with Ypsilon Rally4
No description available...
4d ago from Motorsport.com
Popular On GunnersToday.com
Wednesday's EFL Cup predictions including Tottenham...
Sports Mole provides score predictions and previews for all of today's EFL...
1h ago from SportsMole.co.uk
Some changes but strong team likely for Preston clash
Morning all. We have Carabao Cup action later on when we play Preston...
23m ago from Arseblog.com
Arsenal could fix striker issue in January with 80m...
Arsenal continue to have an eye on the striker market ahead of the 2025...
8h ago from CaughtOffside.com
Report: £100m deal in the works as Gunners prepare...
Arsenal have opted not to invest, rather than invest in the wrong players...
7h ago from FreshArsenal.com
Comments
Hottest News
Mercedes announce Hamilton release ahead of Brazilian GP
Mercedes have confirmed a Lewis Hamilton release... Read More »
12h ago from GPFans.com
Lawson tipped to 'keep Verstappen honest' in potential Red...
One former F1 racer feels Liam Lawson would be... Read More »
53m ago from RacingNews365.com
Wolff pessimistic about Mercedes' chances in Brazil:...
Toto Wolff says Mercedes will find it... Read More »
23m ago from GPBlog.com
