P1racenews AI automatic summary:
Mercedes boss Toto Wolff has admitted the crashes it sustained towards the end of the 2024 season saw the team come “very close” to breaching F1’s budget cap.
Mercedes has consistently abided by the cost cap rule since its implementation in 2021, but recent accidents towards the end of the previous season have caused concerns within the team. Andrea Kimi Antonelli had a major crash at Monza during his debut F1 appearance, followed by George Russell’s two crashes at the United States and Mexican Grands Prix. Team Principal Wolff admitted that these incidents pushed Mercedes close to the $135 million spending threshold set by the sport. Despite the challenges, Wolff remains confident that Mercedes stayed within the budget limit in 2024, though the team had to make sacrifices on upgrades due to financial constraints. The cost cap, along with stable regulations, led to a more competitive field in 2024, with smaller teams also operating profitably thanks to the spending restrictions. Wolff reaffirmed his support for the cost cap, emphasizing its role in making Formula 1 financially sustainable for all teams.
