The reduced budget cap being introduced into the Formula 1 regulations will make it a more ‘clear cut’ decision for any manufacturers eyeing a move into the sport, according to Guenther Steiner.
Initially, the budget cap for 2021 was to be $175 million but recent events saw further talks between the teams and a reduction to $145 million, while other aerodynamic development handicaps have also been introduced in a bid to close up the field.
Steiner, the Team Principal of the Haas F1 Team that was the last new team to join the Formula 1 grid in 2016, hopes these regulation changes will tempt some other manufacturers to make an investment and join the field with the other ten current teams
“It’s a lot more interesting now. We need to push more that we can make this a break-even business at least going forward,” said Steiner to Sky Sports F1. “That’s one of my jobs to do for Mr. Haas, trying to get this to a point where his investments are smaller.
“For teams coming in, when a budget cap is discussed, there are always some people out there which think they can make money with it. It’s still a very expensive sport. You still need to invest a lot of money to get somewhere.
“I think what the good thing is for the manufacturers, if a board of directors see there is a cap, they know how much they’re going to spend as a maximum.
“You [don’t] start with one number and after five years this number has tripled or quadrupled from what you said a few years before.
“Now there is a stake in the ground saying this is the maximum you are allowed to spend by regulation. It’s pretty clear cut now. Whereas before, it was always how much is a piece of string, how much do you want to invest.
“I think it’s a good thing, and hopefully gets corporates or car manufacturers to invest in Formula 1.”
