Mattia Binotto feels FIA’s financial regulations team will double in numbers in upcoming years of F1
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Mattia Binotto has revealed that according to him, the team that is responsible for the financial regulations of Formula One will double in size in the upcoming years of the sport.
The introduction of the budget cap during the 2022 season has brought its challenges where some teams have pushed to increase the $140 Million Cap whereas others have questioned the need for it to be raised.
FIA recently made a slight increase in the budget cap considering the inflation that has hit the economy all across Europe, and Christian Horner has been one of the main protagonists who has raised his voice by saying that the Covid pandemic and the rising cost of living would mean that Red Bull would not be able to compete till the end of the season.
Mattia Binotto has also shared his opinion on the issue in recent times and has indicated that some teams are already nearing the set limit. Moreover, the Ferrari Team Principal has said that he is expecting to see exponential growth in the number of personnel who are responsible for the financial side of the sport.
Mattia Binotto’s take on the 2022 FIA regulations
Binotto has been closely following the happens around the budget cap this season and has said, “The budget cap has to be supervised and monitored.”
“I fully trust the FIA, but the financial regulation is completely new.”
“If we look at the technical regulations or the sporting regulations, they have been in place for many years but there are still areas that need to be monitored. The financial regulation is completely new, both for the teams and for the FIA, and it will take time to get to know it, interpret it, clarify it, monitor it.”
“If I look at what is the FIA’s control team on this front at the moment, it is made up of four or five people, compared to the 10 who are dedicated to the technical front. I think in a few years we will see 10 people dedicated to financial monitoring as well, but in the meantime, there is a big question mark so we know we have to deal with that.”
“I think it is part of the FIA’s job and the teams’ duty to try to speed up proper monitoring as much as possible, but we all have to be aware there is a big question mark right now.”
Binotto has further indicated that while he is hoping for bigger teams regarding finances at FIA, he does not want any new regulations this year as he feels it would split the paddock which would not be good news for FIA.
“I hope there won’t be any changes, I don’t see any real reasons to make changes to the technical regulations for safety reasons, especially if we look at the latest races.”
“In addition, if the aerodynamic regulations were to change for 2023 it would be a considerable problem considering the time of year we are in. There would be very little time to change the concept of the new car.”
“And, I repeat, there are no reasons to introduce changes to the technical regulation by citing safety reasons. So I think it can’t happen and if it does, we’ll try to figure out how to stop them.”
Mattia Binotto has given an in-detail opinion on the regulations and has admitted that he and the other teams will do everything in their power if FIA looks to bring any changes to the technical regulations for this or the next year of the sport.
The year, 2022 has marked the dawn of a new era in the sport, and with the way F1 is progressing, it is almost certain that changes will take place and whenever it happens, it will be fascinating to see how the teams will react and adapt to the curve balls that will be thrown their way by the FIA.
Binotto believes that the regulations that have been brought this year should be given some time to fully understand the implications of it and in his opinion, he does not see any major reason to make changes.
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