Haas boss Guenther Steiner reckons Formula 1’s cost cap should be at least $50m per year lower, following the ratification of the 2021 regulations. Formula 1 will introduce a yearly cost cap of $175m from 2021 in a bid to curb spending, though several factors such as driver salaries, marketing and heritage costs are not included. The majority of Formula 1 teams already operate on an annual budget far less than $175m, and Steiner believes that a lower cap would facilitate fundamental changes. “We should have the budget cap lower, then you wouldn’t need to make cost savings, then the better job you do with your own cost savings, instead of being told we have to save...
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