“There is a big question mark”: Mattia Binotto raises concerns about FIA’s budget cap policy
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Mattia Binotto
The FIA have always decided upon the regulations which govern the proceedings in Formula 1, and in the recent times, their rulings have come under huge public scrutiny because of several factors. Last year, as FIA Race Director Michael Masi took a controversial decision that changed the course of the Championship and robbed Hamilton of his record-breaking eighth World title, many of the followers have lost faith in the FIA.
Thus, every time the FIA tries to introduce some new changes to the F1 races, their decisions are met with considerable protest, and one of the most debated-upon topics lately has been the budget cap that has been implemented in Formula 1. According to the FIA, this will lead to more uniformity between the teams so that no team would be able to spend an exorbitant amount to gain an advantage over the others–but their decision is flawed, according to some people like Ferrari Team Principal Mattia Binotto.
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Mattia Binotto has criticized the FIA for giving out a vague decision regarding the budget cap which does not cover many basics in F1, like it should have. The Italian said there is a huge question mark looming above the budget cap rule that he want the FIA to clarify as soon as possible.
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Mattia Binotto raises concerns against the budget cap by the FIA
Ferrari Boss Mattia Binotto believes financial policing is something that the FIA should not venture into in F1 right now. He said, “I fully trust the FIA, but the financial regulations are completely new regulations.”
“And if you look at the technical or sporting [regulations], it’s many years it’s in place. Yes, you are retuning, changing a bit the chassis, but still [the budget cap] an unknown field, both from the FIA and the teams. So, it’s a matter of time. But in the meantime, there is a big question mark, so we know we need to go through it.”
The FIA have already brought the budget cap into force, with the expenditure of the teams in 2022 being fixated at $140m. It has been reported that the extra $1.2m was added as this year, we have 22 races, with the Russian GP being cancelled, and there are also additional costs for the sprint races. But the teams then protested against the numbers as they said they needed the budget to be set higher because of the rising inflation–and it indeed got increased to 3.1%. Next year, an indexation of 3% has also been planned.
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Riddhi Mondal
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