F1 Team Boss Paints a Grim Picture on the Future of Smaller Teams Amid Coronavirus Crisis

The F1 group supervisors as of now quickly talked about decreasing the spending top. The top groups would prefer not to go under $150 million. The rest requests a spending breaking point of $100 million.

The circumstance is quite serious. The F1 groups break the income and they stay at their own cost. McLaren is the first of the seven groups situated in England to demand unpaid leave for its employees. The state pays compensation up to a limit of £ 2,500 for every representative.

Racing Point is still considering: “The team is currently reviewing a number of cost-saving measures. We cannot rule out anything because there is currently still a great deal of uncertainty about when racing will start again,” says a team statement.

It is huge that McLaren was the first to make this stride. McLaren is one of the more extravagant groups in F1. It has an expected spending plan of 210 million euros and a workforce of around 750 employees.

The measure shows how unequivocally the impacts of the Corona emergency have just cornered the groups. Further down in the field, there are fears of more terrible if somberness measures for the present and a point of view for what’s to come are not immediately made.

A video meeting on Monday (April 6) is about what’s to come. At that point, the group supervisors need to converse with FIA President Jean Todt and F1 boss Chase Carey about bringing down the spending top.

The guidelines as of now stipulate $175 million. A total of 20 things don’t check towards this total. In addition to other things, the driver compensations, the work expenses of the three most costly representatives, travel costs and motor renting.

The minute is favorable. In the hour of need, everybody included is open to cost decreases.

Ferrari, Red Bull, and Mercedes don’t need the spending top to go beneath $150 million, and just under conditions, for example, delaying the new principles until 2023. The staying seven groups request a limit of $100 million.

The point of the change was to unite the field. For just about seven years now, just Mercedes, Ferrari, and Red Bull have won a Grand Prix. The last champ who didn’t originate from this trio was Kimi Raikkonen in the Lotus at the 2013 Australian GP.

Regardless of whether the season begins in July or August, the groups hope to lose $30 to $70 million from Formula 1 premiums.

Large teams can plug the hole in the till more easily. The small teams will experience the ill effects of the misfortunes of 2020 in the following two years.

The seven groups are not just intrigued by the investment funds impact. In the event that Ferrari, Red Bull, and Mercedes burn through 150 million, but the rest have to shrink to 100 million, the hole despite everything remains.