FIA approves to increase the budget by 3.1% for the 2022 season

FIA approves to increase the budget by 3.1% for the 2022 season

FIA

FIA has come under severe pressure to increase the budget cap in the wake of increased inflation and freight costs. The budget cap was kept around $145 million in 2021 but later on it was revised to $140 million for this season. But the inflation has made it next to impossible for the teams to work under the budget cap. Another reason which has made it difficult for the teams has been the Ukraine-Russia war, which has impacted everyone across the world.

Therefore, the team Principals had decided to appeal to look into the matter. Christian Horner has been one of the team Principals who has been vocal about the problems that the teams can face at the end of the season. He went even further as he said that there will be some teams which won’t be able to finish the season if we continue to go on at the same pace.

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Red Bull’s team Principal had said, “I think we need the FIA to address the inflationary issue. Because I think basically probably about seven of the teams probably need to miss the last four races to come within the cap this year, from the consensus that there has been up and down the paddock.”

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FIA agrees to lift up the higher threshold of the current budget cap

FIA
FIA

Ferrari team boss, Mattia Binotto, was considering to play on the technicalities as he felt that Ferrari could do a minor breach and get away with that. He had said, “In the regulations, there is a threshold which is 5%, and if you do not exceed the 5% on top of what’s the budget cap threshold, it could be considered a minor breach. How will they decide on that in terms of penalty, I have no idea.”

In the wake of such comments, it was decided that FIA will look into it and therefore a meeting took place during the FP1 session of the Austrian GP. Martin Brundle on SkySports confirmed that FIA has approved to increase the budget by 3.1% keeping in mind the increase in inflation.

This should definitely come as a sigh of relief, especially for teams like Haas, who have spent much on repairs itself. It would allow teams to bring in upgrades than just thinking about survival.

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