Formula 1 has announced a new budget cap, but in addition to the far-reaching budget cap that will continue to decline in five years’ time, a handicap and some form of standardization are also part of the package that the teams have agreed to.
First and foremost, there is the budget cap, which is intended to bring the field of participants closer together. Motorcycles and drivers may be spent extra, but that’s all. If the amount continues to drop over the years, more and more teams will be able to tap the limit of the budget cap.
In addition to the budget cap, a so-called ‘Aero handicap’ is also part of the new plans for F1. This should ensure that the costs remain lower, but it is also a kind of brake on the top teams. The top teams of Formula 1 will have less time in the wind tunnel and also less time to develop. In this way the smaller teams can make up the gap with the top teams.
In addition, Formula 1 was also busy standardizing parts and found a solution for that. It did not opt for standard parts, but for an ‘open source’ approach. This means that every team must be open about how a part is made, so that smaller teams do not have to invent the wheel themselves and can simply copy it. This will also reduce costs and bring the teams closer together on the grid.