Ferrari 'in denial' over F1 budget cap discussions, claims McLaren
4 years, 8 months ago

Ferrari 'in denial' over F1 budget cap discussions, claims McLaren

The Hindu  

McLaren team principal Zak Brown is "almost at a loss" at Ferrari's opposition to a reduced budget cap in Formula One, claiming the Italian giants are "living in denial". Scuderia boss Mattia Binotto told the Guardian this week that this was "not the time to react in a hurry" as these decisions are made. "It's living in denial, and I think you would find pretty much every president or prime minister or CEO around the world was operating in a hurry to tackle this issue head-on. The 2020 F1 season is yet to get under way amid the global crisis, with all events up until the French Grand Prix on June 28 - which also appears likely to be pushed back - postponed or cancelled.

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History of this topic

Formula One: McLaren calls for cost cap changes to promote sustainability
1 year, 7 months ago

Formula One: McLaren calls for cost cap changes to promote sustainability

The Hindu  

McLaren has urged Formula One to change the cost cap rules to help teams promote sustainability without compromising performance. McLaren Racing boss Zak Brown said on Thursday that teams should not have to choose between spending on car performance and sustainability initiatives that were currently included in the cost cap. “We strongly believe in the cost cap and wouldn’t want …

F1 budget cap rules ‘need tightening up’ after Red Bull breach, says Martin Brundle
2 years, 2 months ago

F1 budget cap rules ‘need tightening up’ after Red Bull breach, says Martin Brundle

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Martin Brundle insists F1’s budget …

Formula 1: FIA delays probe into alleged budget cap violations
2 years, 3 months ago

Formula 1: FIA delays probe into alleged budget cap violations

Firstpost  

Red Bull team principal Christian Horner last weekend angrily hit back at what he called “fictitious claims” that the team had gone above its budget, which could be punishable by a ban. Formula One’s governing body has delayed publishing the findings of an investigation into whether teams broke the budget cap last season, saying its verdict will come next week. …

Ferrari chief reveals why he believes F1’s ‘credibility is at stake’
2 years, 3 months ago

Ferrari chief reveals why he believes F1’s ‘credibility is at stake’

The Independent  

Sign up to our free sport newsletter for all the latest news on everything from cycling to boxing Sign up to our free sport email for all the latest news Sign up to our free sport email for all the latest news SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our …

Lewis Hamilton could be crowned world champion for last season
2 years, 3 months ago

Lewis Hamilton could be crowned world champion for last season

Daily Mail  

Formula One’s rulers are under pressure to crown Lewis Hamilton world champion if Red Bull are found guilty of breaking the spending cap during Max Verstappen’s controversial 2021 title-winning year. In a twist that reopens the most contentious decider in the sport’s history, reports have surfaced in Italy and Germany claiming to show Red Bull exceeded last year’s £114million limit. …

Christian Horner more concerned with F1 budget cap than Mercedes car
2 years, 9 months ago

Christian Horner more concerned with F1 budget cap than Mercedes car

The Hindu  

Red Bull team principal Christian Horner sees nothing illegal in the new-look Mercedes car, and is far more concerned how Formula One’s budget cap will impact teams given the “circumstances we have in the world". What you have to remember is when the budget cap was set back in the midst of the pandemic — in the middle of 2020 …

F1 benefiting from cost cap and rule changes, says Brawn
3 years, 2 months ago

F1 benefiting from cost cap and rule changes, says Brawn

The Hindu  

Formula One fans are seeing the benefits of this year's cost cap and the new rules coming for 2022, the sport's managing director Ross Brawn said on Tuesday with the championship battle on a knife-edge. Mercedes' seven times champion Lewis Hamilton and Red Bull's Max Verstappen have traded the lead repeatedly since March with the latter only six points clear …

Ferrari's F1 Chief Mattia Binotto Hoping for Revival in 2021
3 years, 10 months ago

Ferrari's F1 Chief Mattia Binotto Hoping for Revival in 2021

News 18  

Ferrari boss Mattia Binotto conceded on Thursday that however the upcoming Formula One season pans out, “we know that we need somehow to do better in 2021” after last year’s disastrous campaign. With Carlos Sainz replacing Sebastian Vettel alongside Charles Leclerc, Binotto and all the Scuderia’s legion of fans are anticipating a marked upturn in the team’s fortunes. “Certainly last …

F1 teams warned not to subvert budget cap by stockpiling - Sports news
4 years, 3 months ago

F1 teams warned not to subvert budget cap by stockpiling - Sports news

The Hindu  

Formula One teams have been warned by the governing FIA not to subvert a budget cap due to be introduced in 2021 by stockpiling parts this year for future use, McLaren boss Zak Brown said on Saturday. RELATED| Tuscan GP preview: F1 celebrates Ferrari's past with a fresh challenge “Because next year's car has a lot of carry-over parts, there's …

F1’s 10 teams sign up for next five years
4 years, 4 months ago

F1’s 10 teams sign up for next five years

Live Mint  

Formula One's 10 teams committed to the sport's new era on Wednesday by signing up for the next five years with the promise of a more level playing field and fairer share of the revenues. Haas's French driver Romain Grosjean last month described the situation as the "elephant in the room" and asked: "Is Haas going to be here next …

The bad news is behind us, says McLaren's Zak Brown
4 years, 5 months ago

The bad news is behind us, says McLaren's Zak Brown

The Hindu  

McLaren is in good financial shape after a troubled start to a year turned upside down by the COVID-19 pandemic, the Formula One team's chief executive Zak Brown told reporters at the British Grand Prix. The McLaren Group secured a 150 million pound financing facility from the National Bank of Bahrain in June after earlier cutting staff amid plunging revenues …

McLaren team principal: Our Formula One future was never a doubt
4 years, 6 months ago

McLaren team principal: Our Formula One future was never a doubt

The Hindu  

McLaren's Formula One future was never in doubt despite a cash crisis brought on by the COVID-19 pandemic and now resolved by a fresh injection of funds, team principal Andreas Seidl said on Tuesday. The National Bank of Bahrain announced on Monday a 150 million pound financing facility for the McLaren Group, which includes the team and supercar manufacturer. “The …

F1 teams agree to cut costs with budget limit of $145m: Report
4 years, 7 months ago

F1 teams agree to cut costs with budget limit of $145m: Report

The Hindu  

Formula 1 teams on Friday agreed to cap spending at $145 million next season as the sport attempts to counter the financial fallout from the coronavirus pandemic, media reports claimed. With the 2020 season yet to get underway and with 10 of the scheduled 22 races already either cancelled or postponed, the 10 teams hammered out the new agreement. Friday's …

Ferrari veto of F1 budget cap proposals not a worry for Todt
4 years, 7 months ago

Ferrari veto of F1 budget cap proposals not a worry for Todt

The Hindu  

FIA president Jean Todt is not concerned about the possibility of Ferrari vetoing a move to lower the Formula One budget cap from 2021. Ferrari has claimed it would have to consider its future in the sport if the restrictions become too great, with McLaren and others wanting the cap set around the $100m mark. Asked about Ferrari using its …

Ferrari looking at entering North American IndyCar series, says Formula 1 Team Principal Mattia Binotto
4 years, 7 months ago

Ferrari looking at entering North American IndyCar series, says Formula 1 Team Principal Mattia Binotto

Firstpost  

Binotto said Formula One’s new budget cap of $145 million for teams from 2021 would lead to staff being made redundant and Ferrari was looking at options to ensure its employees retain their jobs, albeit in a different field. Ferrari is exploring the possibility of entering the North American IndyCar series, its Formula One team principal Mattia Binotto said on …

F1 director: More spending cuts needed to preserve teams
4 years, 8 months ago

F1 director: More spending cuts needed to preserve teams

The Hindu  

The managing director of Formula One has said spending cuts will be necessary to prevent the “tragedy” of teams leaving the sport amid the coronavirus outbreak. If we can achieve that we should have a very sustainable future.” - 'Losing teams would be a tragedy' - The likes of Grand Prix giants Mercedes, Red Bull Racing and Ferrari each have …

FIA chief: Risk of losing teams due to coronavirus
4 years, 9 months ago

FIA chief: Risk of losing teams due to coronavirus

The Hindu  

International automobile federation chief Jean Todt warned Thursday that the coronavirus could threaten the future of motorsport teams and manufacturers. Even before the Montreal event was binned, McLaren boss Zak Brown said Formula One was in a “very fragile state”. We are working on it.” With over a third of the races planned for the F1 season already shelved, Todt …

Formula One in 'very fragile state', warns McLaren boss Zak Brown
4 years, 9 months ago

Formula One in 'very fragile state', warns McLaren boss Zak Brown

The Hindu  

McLaren boss Zak Brown said on Sunday that the coronavirus pandemic has plunged Formula One into “a very fragile state”, warning that as many as four teams could even be driven out of business. READ | “This is potentially devastating to teams, and if to enough teams then it's very threatening to F1 as a whole,” Brown told the BBC …

McLaren drivers take pay cut amid cost-cutting measures
4 years, 9 months ago

McLaren drivers take pay cut amid cost-cutting measures

The Hindu  

McLaren drivers Carlos Sainz and Lando Norris have taken voluntary pay cuts as part of a raft of cost-cutting measures to help the team survive the coronavirus crisis with Formula One in lockdown. “The McLaren Group is temporarily furloughing a number of employees as part of wider cost-cutting measures due to the impact of the COVID-19 pandemic on its business,” …

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