Guenther Steiner, the principal of the Haas F1 team, has openly acknowledged the pivotal role of the cost cap in the team’s continued existence, stating that without it, “we wouldn’t be here anymore.”
Since its introduction in the 2021 season, a spending limit for F1 teams on car development and construction has been enforced.
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This financial regulation was implemented to create a more equitable competition, preventing financially stronger teams from dominating the sport through sheer monetary power off the track.
While it’s not an instant fix-all solution, the cost cap has been widely commended for its positive impact on the sport’s competitive balance.
Steiner Acknowledges that without F1’s Cost Cap, Haas Might Have Vanished
Steiner stresses the importance of cost cap in F1
“In general, without the cost cap, I think Haas wouldn’t be here anymore,” Steiner said.
“So would not a few other teams, because the gap just got too big, and it was all about how much money can you spend?”
“2020 and 2021 were very tough years for us because we didn’t know if we are staying around in Formula 1 or not,” he added when asked about the direction of the current team.
“But in 2022, from where we were, we came back – I wouldn’t say mega strong – but fairly strong and then obviously we wanted to build on that one.
“In the beginning of 2023, we built on it and came back good, but then, I don’t want to bore you again with that story, it didn’t go the right direction.
“But I think the cost cap in general is very good for Formula 1.”
Source: GP Fans
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