Flavio Briatore Calls for Overhaul of F1 Budget Cap
Former Renault boss and current Alpine executive consultant, Flavio Briatore, is shaking up the Formula 1 world by demanding a significant change in the budget cap regulations. Briatore is advocating for a revision of the cost limit to now include the salaries of drivers, a move that could revolutionize the financial landscape of the sport.
While expressing his support for the existing budget cap system, which was implemented in 2021 to promote fairness among teams, Briatore argues that it no longer accurately represents the financial reality of modern F1. The Italian entrepreneur points out that despite the on-track spectacle remaining constant, overall costs have skyrocketed, particularly in terms of driver salaries.
In a bold statement, Briatore highlights the astronomical earnings of top drivers like Max Verstappen, who reportedly rake in up to $65 million annually. This massive sum is currently exempt from the team’s cap of $140.4 million, representing almost half of the total allowance. Briatore insists that it’s time to include driver salaries within the budget cap framework, hinting that an increase in the cap itself might be necessary to accommodate this change.
“The Formula 1 landscape has undeniably evolved. Establishing a budget cap for teams was a brilliant move that should be upheld,” Briatore asserted. “However, driver salaries must now be factored into this equation. The disparity between my time at Renault and the present is staggering; costs have significantly surged.”
To ensure the financial sustainability and fairness of Formula 1, Briatore firmly believes that this adjustment is imperative. “The races are the same. What you see on TV is the same. The battle among drivers remains unchanged. It’s the costs that have escalated dramatically. Increased costs don’t equate to a better business or a better show. It’s still the same competition for me. It’s highly competitive. We have fantastic drivers. But the costs have soared. The budget cap was a brilliant idea. I advocate for an increase in the budget, including drivers’ salaries,” Briatore concluded.
With Briatore’s radical proposal, the Formula 1 community is bracing for a potential financial upheaval that could reshape the sport’s economic landscape and level the playing field for teams of all sizes.
