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F1 teams set to pass five-year budget cap plan

F1 teams set to pass five-year budget cap plan



F1 teams set to pass five-year budget cap plan

F1 teams set to pass five-year budget cap plan

Formula 1's teams are expected to vote through the finalised budget cap proposals presented to them by Liberty Media and the FIA this week.

There has been considerable discussion - and discord - in recent weeks regarding the cap, which now includes a five-year glide-path element in the hope of appeasing all parties.

For 2021, the figure is to be set at $145million, followed by $140million for 2022, and then dropping to $135million for 2023-25. From 2026 onwards, it is hoped the ceiling could be lowered further.

As agreed in the original budget cap plans, when the figure was set at $175million, there are a number of exclusions, that primarily include driver salaries, the salaries of the three highest-paid employees, power unit manufacture, marketing and travel costs.

In addition, the new proposal has also made provision for the deduction of R&D monies from the smaller teams that purchase components from the larger teams.

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Despite the war of words that has been waged of late, with the likes of McLaren pushing for a significantly reduced cost cap figure, and Ferrari fervently arguing against, it appears a compromise has now been reached.

Under recently introduced FIA legislation, for the cap to be voted through, just six of the 10 teams are required to be in favour.

GPFans understands the majority are now content enough with the plan, which will then come into force in the regulations for the next three years.

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