Starting with the 2021 Formula One season, the intended budget cap is $175 million per year. There is no direct cap on engine developments. Both Mercedes and Ferrari supply engines to other teams and they come at a cost of $15 million, but this will not be counted in the budget.
Louis Camilleri, the current CEO of Ferrari and former Chairman of Philip Morris International, admitted that the regulations that were presented in Austin are by no means complete. According to him, adjustments are certainly possible and in some cases not small.
That was presented is the beginning of the beginning. Certainly not the end of the beginning. A lot of work still needs to be done with Formula 1 and the FIA, just like with the teams. Yes, we voted in favour and did not use our veto. So we are satisfied with the direction that people are heading, but there are still enough details to smooth out,” Louis Camilleri reports to Motorsportweek – “The budget cap only covers certain aspects of the car and the most important example is that the engine is not covered. Our feeling, our hope, is that we ultimately get a budget cap for the engine itself.”
There is no direct cap on engine developments. From 2021, engine manufacturers are only allowed to use the test benches to test power sources.
“That is a considerable cost item. And if Formula 1 becomes more entertaining and attracts more fans, that logically means more money. That is ultimately good for all teams, including Ferrari,” he concluded.
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