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Formula 1

Steiner thinks cost cap contributes to closer racing in F1

RED BULL RING, AUSTRIA - JULY 10: Kevin Magnussen, Haas VF-22, leads Fernando Alonso, Alpine A522, Zhou Guanyu, Alfa Romeo C42, Lando Norris, McLaren MCL36, and Mick Schumacher, Haas VF-22 during the Austrian GP at Red Bull Ring on Sunday July 10, 2022 in Spielberg, Austria. (Photo by Zak Mauger / LAT Images). Credits: LAT Photo.

Haas team principal Guenther Steiner believes that the cost cap is one of the factors that made racing in Formula 1 closer.

The budget cap was introduced to level the costs of all teams. At the start of the 2022 season, the limit was at $140m, but was recently increased by 3.1% following high inflation.

Steiner thinks that the cost cap led to thrilling battles on race tracks.

“I think what is happening in the moment is there’s a lot of fighting going on – and in many areas fighting in a good way out on the race track,” he commented.

“There’s a lot of racing going on. And I think that’s down also to the cost cap. We have created a successful rule and we shouldn’t go away from the principle.”

Steiner added that removing the limit would be a bad decision for the championship.

“It should not be the intention to go back to the good old days, where just who’s got more money is going to win and then take the championship away.

“I think that for FOM, what happened at [races like] Silverstone was fantastic in my opinion, and for the spectators it was fantastic.

“You always have to think why did we have this? I think the cost cap is part of it. And therefore, I think we should try to protect the cost cap as much as we can by not hurting teams this year.”

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