Formula 1

Financial Side of the Regulations ‘Are Coming To Us’ – Racing Point’s Andrew Green

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Credit: Octane Photographic Ltd

Andrew Green, the Technical Director of the BWT Racing Point F1 Team, says the new financial regulations and the introduction of the budget cut in Formula 1 should help level the playing field.

Currently, with spending limits not capped, three teams have had a distinct advantage upon the rest of the field but from 2021, a budget cap of $145 million will come into place, with it decreasing in the subsequent years.

That budget cap should mean that some teams, notably Mercedes AMG Petronas Formula One Team, Scuderia Ferrari and Aston Martin Red Bull Racing, will have to downsize as they will need to reduce their expenditure, something Racing Point will not need to do as they have been working will small budgets throughout their time in the sport. The McLaren F1 Team has already announced they will need to cut some of their workforce to meet the regulations.

Green admits that had the regulations not changed, Racing Point – who will become Aston Martin Racing in 2021 – would have had to consider expanding their workforce to give themselves a chance of wins or podiums.

“A year or so ago you would have said yes, but not now,” Green said to Formula 1’s Beyond the Grid podcast.  “Not in the current climate and not with the regulations that are coming in, starting in 2022. I think those teams now are dinosaurs and you’ve got to be small, lean and efficient.

“As far as the financial side of the regulations are concerned, I think they are coming to us. They are definitely going to allow us to compete with what used to be big teams, because they can’t be big teams anymore.

“They are going to have to come down and get much closer to our level. We’ve been doing it for years and we’ve been at this level for years.

“We do a reasonable job at it, by no means do we do it the best, and we could do it better, but we have been doing it a long time and I think we have put systems and groups in place that know how to work in a cost-driven environment, and I think that’s going to help us.

“A few years ago I would have been turning around to Lawrence [Stroll] and saying ‘we need a new factory, 900 people and our own wind tunnel, we need to bring an army if we are ever going to compete’. But that’s not the case anymore.”

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