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Ferrari's Binotto in favour of two-tier budget cap system
Ferrari boss Mattia Binotto is in favour of a two-tier budget cap system for 2021 that would consider the additional R&D costs supported by the sport's bigger teams. Formula 1's long-waited cost-cutting measures will finally see the light of day next season. Furthermore, because of the sport's economic downturn amid the COVID-19 pandemic, teams have agreed to reduce the initial $175m spending limit to $150m, although F1's smaller outfits are lobbying for a further cutback to $100m. But Binotto argues that F1's front-running outfits have significant research and development costs, while their smaller customer teams simply buy a certain number of parts and components from them. F1 and teams...
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