Liberty Media CEO Greg Maffei has hailed ex-Formula 1 boss Chase Carey for his achievement in making the budget cap a reality. Putting a limit on the spending power of the teams is far from a new concept in Formula 1. Bernie Ecclestone and former FIA president Max Mosley tried and failed in the past, and in time the implications became clear. As comfortably the three highest spenders in Formula 1, Mercedes, Ferrari and Red Bull would go on to establish themselves at the top, with a clear divide on-track to those with more modest budgets in the midfield. But under the leadership of Carey, Formula 1 was finally able to bring in a budget cap. Teams are now permitted to spend up to $145m per...
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