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Ferrari’s resistance to a new budget cap cut for the upcoming Formula 1 season has caused some competitors to misunderstand. Each team can spend around € 162 million in 2021. Ferrari team boss Mattia Binotto was upset Thursday by declaring in a newspaper interview that Ferrari was also considering “other options” if it was further reduced.
There are no “hasty decisions”
The subtle exit threat, which the Italian racing team later described as misinterpreted, angered McLaren CEO Zak Brown. “I almost miss the words,” said the American. Ferrari’s statements that, according to the Corona virus crisis, one should not make “hasty decisions” without thinking about the consequences for the entire series of races are contradictory.
“I think we all recognize that we are going through the greatest crisis in modern times that the world has seen,” said Brown. “Countries have been closed, entire industries have been closed.” Now he “is in no hurry” when making future decisions was a serious mistake.
Due to the numerous canceled races and the resulting loss of revenue, cost reduction is of central importance, especially for smaller teams. I would hate if Ferrari followed through on its threat and left Formula One, Brown said. In his opinion, the sport would survive with 18 cars, that is, nine teams.
