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BREAKING NEWS

F1 budget cap to be increased amid inflation

2022 British Grand Prix 2022, Sunday - LAT Images. Credits: Mercedes.

The Formula 1 Commission agreed to introduce a 3.1% indexation of the budget cap in response to high inflation in 2022.

The F1 Commission had a meeting in Austria on Friday to discuss concerning matters in the championship.

Several F1 teams expressed their fears over the fact that they would not be able to stay within the budget cap because of unexpectedly high inflation.

The FIA had consultations with the Financial Advisory Committee and proposed to introduce an indexation of the existing cost cap. The idea was supported during the meeting. Furthermore, the rate could be increased from 2023.

It was also decided to allow to hold F1 pre-season testing outside Europe four days before the start of the season.

The technical directive regarding porpoising was also discussed. It was agreed that it would come into force starting from the Belgian Grand Prix in order to allow teams to make changes to the cars.

The 2026 power unit regulations were another topic of discussions. It was stated that the rules were close to finalization.

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