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Binotto: "A budget cap of $145m cannot be attained"

Ferrari team principal Mattia Binotto believes that smaller teams pushing to lower the 2021 budget cap to $145m are playing with fire, as such a demanding request would imply more costly and detrimental sacrifices to the sport.

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Binotto: "A budget cap of $145m cannot be attained"
Fuente imagen: F1.com

Ferrari is no longer disposed to accept any further budget cap reduction, as midfield teams push to reach an agreement over the sum of $145m (or lower) for 2021.

Mattia Binotto set his intentions clear over preserving the DNA of F1 despite the financial crisis directly deriving from the Coronavirus pandemic. Initially teams’ consensus was leaning towards the option of lowering the 2021 cost cap to $150m, but talks on such a sensitive matter are still ongoing.

Smaller teams also expressed their aim to lower it even further to $130m in 2022, but Ferrari does not appear to be available to compromise.

"The $145m level is already a new and demanding request compared to what was set out last June" he told the Guardian.

"It cannot be attained without further significant sacrifices, especially in terms of our human resources”.

"If it was to get even lower, we would not want to be put in a position of having to look at other further options for deploying our racing DNA."

Binotto, along with Red Bull team principal Christian Horner, does not stand against supplying smaller teams with customer cars. However, he outlines that there has to be a rationale behind the definitive plan drawn for the near future.

"If the current emergency really put the existence of some of our competitors in this sport in doubt and made it necessary to revise certain cornerstones, then Ferrari would be open to it," said the Italian team principal.

"It's not even sacrilegious, given it's happened before in F1 and happens today in series such as MotoGP."

"It is not simple and straightforward to make structural changes simply by cutting costs in a linear fashion" he added.

"We are well aware that F1 and indeed the whole world right now is going through a particularly difficult time because of the Covid-19 pandemic".

"However, this is not the time to react in a hurry as there's a risk of making decisions on the back of this emergency without clearly evaluating all the consequences."

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