News Details

F1 tweaks budget cap to reflect inflation

Formula One 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 One 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. Editor's Picks Verstappen: Good Lewis can take an apex now 19hNate...
Full Story »
2y ago from espnF1.com 0
Share

You May Also Be Interested In...

Formula 1 approves minor increase on budget cap

Formula 1 approved a small increase to its $140-Million per team annual...
2y ago from GrandPrix247.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

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

Elsewhere On The Network

Popular On MGPToday.com

Andrea Iannone to replace Fabio Di Giannantonio at...

VR46 Racing Team have announced that Andrea Iannone will replace Fabio Di...

Popular On IndyCarToday.com

IMS debuts 11 special Taylor Swift helmets to...

Indianapolis Motor Speedway revealed 11 special racing helmets on Friday,...

Graham Rahal hoping better luck helps him rebound in...

Graham Rahal believes a continued streak of bad luck has played a major...

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...

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...
22m 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

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.