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Ewan Gale
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F1's budget cap has been vital in securing financial stability for teams in the sport since being introduced for the 2021 season.
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The limit on team spending brought an end to the trend of powerhouses throwing money at their cars in the quest for success, aimed at creating a fairer playing field.
With the regulations already facing a test with the breach by Red Bull and the subsequent penalties for the team, GPFans has all the info on the F1 budget cap.
How much is the F1 budget cap in 2023?
The first cap was placed at $145million in 2021, with a $5million reduction last year.
There was an impact on finances from Covid and then rising energy prices through inflation last season, with teams given a break by the FIA to meet targets.
But for 2023 there has been a further $5million reduction, with the cap now set at $135million.
How does the F1 budget cap work and what is included?
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Each team must pass an audit, with regular discussion throughout the year between the team and the FIA.
Penalties are then handed out in the case of a breach, with the given punishments for any breach kept vague in order to stave off any enticement to take a hit.
A minor breach is classed as any failure to comply with $5million over the mark, whilst a material breach would surpass that figure.
There are exemptions from the cost cap that teams can spend infinite resource on, including marketing, travel costs and, crucially, the wages of the three highest-earning staff members.
Essentially, all costs that are related to car performance are included.
Does the cap affect driver salaries in F1?
The cap does not include driver salaries, although there has been discussion in recent years as to whether a separate salary cap is introduced.
What happens if F1 teams go over the budget cap?
For a minor breach, teams could be hit with a fine [determined on a case-by-case basis], a public reprimand, a deduction of constructors' points [for year in which the breach took place], a deduction of drivers' championship points, suspension from 'one or more stages' of competition and testing limitations.
Punishments for a material breach extend to exclusion and suspension from the championship.
For Red Bull's minor breach, the team was fined $7million and handed a 10 per cent reduction in aerodynamic testing time for the new season.
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F1 Race Calendar
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F1 Standings
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Driver Standings 2024
- 01 Max VERSTAPPENRed Bull Racing2602 Sergio PÉREZRed Bull Racing1803 Carlos SAINZFerrari1504 Charles LECLERCFerrari1205 George RUSSELLMercedes10
Full drivers
Constructor Standings 2024
- 01 Red Bull Racing Great Britain4402 Ferrari Italy2703 Mercedes Great Britain1604 McLaren Great Britain1205 Aston Martin Great Britain3
Full constructors
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Drivers
- Oliver Bearman
- Charles Leclerc
- Carlos Sainz
- Lando Norris
- Oscar Piastri
- Pierre Gasly
- Esteban Ocon
- Sergio Pérez
- Max Verstappen
- Alexander Albon
- Logan Sargeant
- Lewis Hamilton
- George Russell
- Nico Hülkenberg
- Kevin Magnussen
- Fernando Alonso
- Lance Stroll
- Valtteri Bottas
- Zhou Guanyu
- Daniel Ricciardo
- Yuki Tsunoda
Teams
- Aston Martin
- BWT Alpine
- Ferrari
- Haas F1 Team
- McLaren
- Mercedes
- Red Bull Racing
- Stake F1 Team
- Visa Cash App RB
- Williams
Races
- Gulf Air Grand Prix of Bahrain 2024
- Saudi Arabian Grand Prix 2024
- Grand Prix of Australia 2024
- MSC Cruises Grand Prix of Japan 2024
- Grand Prix of China 2024
- Miami Grand Prix 2024
- Gran Premio dell'Emilia Romagna 2024
- Grand Prix of Monaco 2024
- Grand Prix du Canada 2024
- Gran Premio de España 2024
- Grand Prix of Austria 2024
- Grand Prix of Great Britain 2024
- Grand Prix of Hungary 2024
- Grand Prix of Belgium 2024
- Heineken Dutch Grand Prix 2024
- Grand Prix of Italy 2024
- Grand Prix of Azerbaijan 2024
- Grand Prix of Singapore 2024
- Grand Prix of the United States 2024
- Gran Premio de la Ciudad de Mexico 2024
- Grande Prêmio de São Paulo 2024
- Heineken Silver Las Vegas Grand Prix 2024
- Qatar Grand Prix 2024
- Grand Prix of Abu Dhabi 2024
About GPFans
GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips. We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi. With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.
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