The new budget cap regulations for the 2021 Formula 1 season will provide a 'huge challenge' for Mercedes, according to Technical Director James Allison, given its prior use of resources. From this season Formula 1's 10 teams will run to a budget cap of $145m, albeit with some costs excluded, with external auditors enlisted to ensure no rules are broken. It will be the first time that Financial Regulations have been utilised in Formula 1. Mercedes has won seven successive titles and is among Formula 1's biggest spenders and says adapting to the new regulations will mean new ways of working. '2021 is a big year for the entire sport. It’s the first year of the new financial regulations,...
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