F1 | Agag: “Coronavirus crisis? Formula 1 must exploit the opportunity"

In a chat given to the columns of motorsport.com, Alexander Agag commented on the stalemate that the world of formula 1, underlining how this crisis could help the Circus to correct the course after extremely difficult seasons.

According to the Formula E Boss, Liberty Medium e FIA they will have a great opportunity for a relaunch in their hands, given that it will be possible to further lower the maximum budget cap. A move that will have to go through the teams, but which could help small businesses in tremendous economic difficulty. The salary cap, remember, is currently set at 125 million dollars and will be made active starting from the 2021 World Cup.

“Formula 1 should make the most of this Coronavirus opportunity,” said Alejandro Agag. “They could restructure the entire model. I've heard of a maximum budget of 125 million, but thinking about it carefully, why not bring this sum to 75 million and make everything more profitable?”.

“Maybe it's a good thing that the Concordat hasn't been signed yet,” he continued. “It contained a lot of points which were a sort of burden for Formula 1. Some teams gained a lot, while others earned very little. There is an opportunity on the table and F1 must be able to seize it and know how to use it to its advantage."