With Ferrari spending over 300 million on their F1 season and a team like Sauber spending barely 90 million, the budget gap throughout the grid is an actual current issue.
As a solution, you could either dumb down the technology for everyone, or reduce costs by making some things standard.
Therefore, to address this disparity in spending, F1 CEO Chase Carey is pushing for the introduction of certain car parts in Formula One to be standard to all teams.
Photo : Sutton Images
“We’re not looking to standardise the car”, Carey confirmed however. “We think it is very important to continue to have a sport that is competition married to state of the art technologies.
“We’re not looking to dumb the cars down, but I think we can standardise components of it.
“We are certainly looking for ways to address what some of the teams in particular spend that would improve the overall economics of the business and enable everybody in it to benefit, as well as improving the competition.”
Although nothing is final yet and we don’t know what parts exactly are to be standardised, initial meetings have happened with F1 teams to discuss cost cutting.
“One of the challenges we have today is there are a handful of teams that clearly spend at a level that’s much different from the others and you can see the results on track”, Carey further explained.
“So if we can bring the costs into an area where they are more comparable – not equal to each other – it can enhance competition and would make the economics of the business much better.”
Feature image : Sutton Images
– Aditya Bhat.