The major constructors have threatened that it would be the case, but a recent report has warned that up to 1,250 jobs will be lost within the F1 industry if Liberty Media pushes through a £114million-per-yer budget cap as part of its 2021 vision. Liberty has introduced the spending limit for three main reasons: 1) Make the sport more economically viable and keep teams solvent At the moment, Mercedes, Ferrari and Red Bull's budgets grossly outweigh those of the other teams, mainly because their only incentive is on-track success, and their organisations can accept the losses for marketing purposes or other reasons. Mercedes' cost base of £274m in 2016 was, for example,...
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