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New F1 cost rules will end ‘dinosaur’ big team operations
Formula 1’s new financial regulations will end the need for big team operational approaches and help level the playing field in the sport, according to Racing Point technical director Andrew Green. A major package of cost-cutting changes - including a $145m budget cap for 2021 - is set to be ratified by the FIA World Motor Sport Council and introduced after gaining approval from the teams. The cost cap will force F1’s leading three teams to significantly reduce spending and is likely to lead the likes of Mercedes, Ferrari and Red Bull to make cuts to its staff numbers. McLaren announced this week it will make 1,200 redundancies as part of a major company-wide restructure that will...
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