Mercedes team principal Toto Wolff admitted that the budget cap fulfills its purpose of not letting the top teams “throw money”.
Formula 1 introduced the budget cap in the 2021 season. In 2022, the limit was at the $140m mark. However, it was increased by 3.1% later in the season due to rising inflation.
Wolff revealed that the budget cap “absolutely hit the target” as Mercedes cannot fix the issue of excessive weight of the car instantly.
“Let’s look at the chassis, we wouldn’t be able to introduce a [new] chassis,” he said.
“We are massively overweight which we haven’t been really able to dine out because we are trying parts on the car in order to solve our various issues. We can’t afford that, full stop.
“So what was aimed by introducing the cost cap absolutely hit the target.
“It is what they [the FIA] wanted: to achieve that the big teams can’t just throw money at it.”