Formula 1 has agreed a $145 million budget cap for teams next year and will continue to try and tighten that for future seasons, managing director Ross Brawn said on Monday. The Briton also told Sky Sports television after a teleconference with teams and the governing FIA that a much fairer prize fund would feature in a new commercial agreement due by the end of this year. “The budget cap initial objectives were a more competitive field and I think with the situation we have now the sustainability, the economic sustainability, of Formula 1 is a priority. That counts as much for the big teams as it does for the small teams,' explained Brawn. Formula 1’s season has yet to start, with the...
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