Following a vote at a Formula 1 Commission meeting which took place earlier today in Austria, it has been agreed that the cost cap will rise for the current Formula 1 championship.
The top teams, namely Red Bull, Ferrari and Mercedes, but also others, had been calling for an increase on the spending limit due to rising global inflation.
It has been confirmed on Friday that a limited increase of 3.1% on the $140m cost cap has been agreed. The FIA explains that this will “preserve the long-term integrity of the Financial Regulations”.
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