Red Bull enjoyed a successful season in 2020 so far. The team had one racer on the podium at almost every race this year. However, the RBR team was forced to think about the budget cap in 2021.
FIA is going to be strict about the budget cap as the sport itself is at stake. Therefore, Red Bull faces a similar challenge of sticking to less than half of its present budget, like Mercedes and Ferrari.
Red Bull had shifted from being a payee to McLaren to be a working partner with Honda. The upgrade in the power unit had cut down the budget hugely. However, the team is still far behind from meeting the designated budget for 2021.
As of 2019’s records, the team cut down on £2.3m. The team’s total budget was £237.3m (over $300M).
Though that is an improvement in terms of budget capping, the team is still a long way from home. The FIA renders a budget of $145 million, which translates to £113 million.
The number mentioned earlier and the figures FIA deems correct, have a bridge of almost $100 million. Therefore, fitting the budget will be a challenge for Red Bull.
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Red Bull Chief ensures that they consider necessary steps for the budget cap
Team Principal Christian Horner stresses that the amount incurred is necessary to run an actual F1 team. However, that will not do, if Red Bull were to take part in the season of 2021. So, Horner stressed on the factor of the budget before the COVID-19 pandemic.
“The directors consider race performance, championship performance, and a controlled cost base to be principal key performance indicators to assess progress towards strategic goals,” Horner mentioned.
The Team Principal realizes the need for bringing their expenditures down. He left a note on this context remarking that they have taken the necessary steps.
“Costs remain under control and the team is mindful of adaptions necessary for new financial regulations coming into force for 2021”
The 2021 budget cap is important for the sport to survive. The word of F1 being a game of money needs a proper response. The game may involve huge budgets and ground-breaking deals; however, money alone is not enough to manipulate it.
The ground for equal footing is necessary, and the FIA is gunning for the same.
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