P1racenews AI automatic summary:
FIA’s Single Seater Director Nikolas Tombazis believes that whilst Formula 1’s cost cap has helped curb spending, teams struggle to
The introduction of the F1 cost cap in 2021 limited teams’ spending to $145 million, which decreased to $140 million in 2022 and $135 million in 2023. This, along with the new technical regulations, has resulted in teams converging in terms of performance, with only marginal differences among the majority of teams. However, for teams like Ferrari and Mercedes, catching up to Red Bull is a difficult and lengthy process due to the financial limitations of the cost cap. In the past, teams could make significant upgrades mid-season to improve their performance, but the financial regulations now restrict the number of upgrades allowed. The cost cap has limited mid-season turnarounds for some teams, while others have chosen to prioritize long-term development of their 2024 cars. There have been suggestions to loosen the technical regulations, but striking a balance between limitations and freedom is challenging to avoid large performance gaps in the grid.
