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Ferrari looking into other series to maintain workforce

Ferrari Team Principal Mattia Binotto has revealed that the fabled Italian company is considering plans to restructure its racing portfolio in the future. Formula 1 is set to introduce a cost cap as of 2021 which will heavily limit teams’ expenditure. While top teams like Ferrari, Mercedes and Red Bull have spent over $300 million per year, teams will need to prepare for a much lower limit in the future. Ahead of the coronavirus outbreak, the cost cap was set at $175 million, but the recession caused by the health crisis urged the sport to reconsider the limit. Although there is no consensus about how much the cost cap needs to be further lowered, Formula 1 motorsport boss Ross Brawn...
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6d ago from F1Technical.net 0
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