Racing Point team principal Otmar Szafnauer has reminded everyone that teams don't have to reach the budget cap limit. The budget cap, which will come in from 2021, was originally set at $175m per season with certain exclusions, but teams have agreed in principal to reduce it to $150m, while McLaren are pushing for $100m. This is all in response to the financial impacts of the COVID-19 pandemic on teams, and Ferrari have threatened to quit Formula 1 if the cap goes below $145m, but Szafnauer says the limit helps both in terms of financial stability and the quality of racing in Formula 1. And remember, no team has to spend to that figure. 'The other thing that we have to remember is that...
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