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F1 wants budget cap – Bernie

F1 boss Bernie Ecclestone says that F1 need budget cap, in order to takes the spending of the biggest teams in line with the back-markers.

Existing budgets in F1 have been approximate to range from €35 million to €200 million with the Resource Restriction Agreement (RRA) the only check on spending. But Bernie reckons all the teams should learn to be more careful and attempt to slash their budgets.

F1 boos said through the interview with the official F1 website, he felt some teams were taking a delusional approach to their economic situations.

“Let’s put it this way: there are still too many people in Formula 1 running around with rose-tinted glasses,” he said. “They obviously like to see the world as they want it to be – wonderful, the sun is shining, isn’t life delightful – and not how it is. The downside of these glasses is that they blind you to reality.”

Asked what his recommendation so such teams would be, Ecclestone replied: “Change the colour of your glasses and tighten your belts. Stop spending more than you need to.”

“We have had this kind of problem for quite a while now as of course [wealthy teams] spend what they have,” said Ecclestone. “You could install a mandatory budget for all teams – on the basis of the smaller teams – but [the larger teams] don’t like it and fiercely fight against it.”

When asked if he could foresee such a rule being imposed in the near future, Ecclestone said: “I would welcome it. Yes, I think it could happen.”

And he also added that he was not worried about the growing trend of drivers having to bring money with them to secure drives.

“I don’t like the phrase ‘pay driver’. They have deep-pocketed sponsors who support them. What’s wrong with that?” he said. “I have never seen a driver giving his own money for a ride.”


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