F1 | Camilleri in favor of the budget cap: "If it weren't there, sport would die"

The Ferrari CEO looks with confidence to the introduction of the budget cap from 2021. Each team will have 175 million dollars available and this will be a disadvantage for the more competitive teams as they will find themselves forced to continue their operations with a much smaller budget so you have more parity.

The budget cap will mainly cover the development of the chassis, but will not decisively influence the development of the power unit or the salary of the drivers.

Initially, some top teams such as Ferrari were against the spending limit, to the point of threatening to leave Formula 1, but Louis Camilleri who took over after the sudden death of Sergio Marchionne, has changed his point of view:

“I think we have reached a relatively good compromise in terms of maximum costs, which today applies to the chassis”, commented the Ferrari CEO to Autosport.

“We are in favor of it because we believe it is positive for the economic sustainability of Formula 1. Over time, the budget cap should include more cars, power units and even drivers. Because ultimately, if the sport is not sustainable, it will slowly die. So, we felt it was our responsibility to ensure that it was economically feasible.”