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Formula 1’s cost cut is example for football, says Domenicali

Stefano Domenicali. Credits: Twitter.

Following recent controversy surrounding the Super League fiasco, F1 CEO Stefano Domenicali said that football could benefit greatly by following grand prix’s racing cost cut crusade.

Formula 1 is no stranger to breakaway threats, with the Formula One Teams’ Association (FOTA) threatening the sport with plans for its own series back in 2009 following disagreements about the terms teams were offered to keep racing, later being dropped because FIA and the teams came to a compromise over governance and financial terms.

Despite teams getting a larger share of F1’s profits, F1 has recently started to put emphasis on cost cutting too, with new rules in place trying to limit team spending and a new budget cap in place from 2021.

In an interview with Italian channel Sky TG24, Domenicali said that F1’s focus on reducing costs is key to removing dangers of a top team Super League style breakaway and delivering a solid foundation for long term.

Speaking about what happened in football, he said: “In Formula 1, we have already had a situation twice in which there was the risk of a breakaway championship to try to bring home [to the teams] more results from the point of view of income.”

“In F1 at the moment, we started with the opposite approach: of trying to control costs. It is no coincidence that this year is the first year of the budget cap, which gives a different dimension of financial sustainability to the teams,” he added.

Domenicali continued by saying: “I think this is the first issue that the world of football if I can say it, must tackle, and in a fairly rapid way.”

He also pointed out F1’s future technology plans, ensuring that the sport remains interesting for teams and manufacturers, by saying: “We will be a Hybrid F1, and we will have eco-sustainable fuel.”

In the end, he concluded: “There are already many activities like this that cut across society, and this gives F1 the opportunity to be a protagonist.”

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