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F1 teams not trying to "pull wool over anybody's eyes" with budget cap

F1 teams not trying to "pull wool over anybody's eyes" with budget cap

F1 News

F1 teams not trying to "pull wool over anybody's eyes" with budget cap

F1 teams not trying to "pull wool over anybody's eyes" with budget cap

Haas team principal Guenther Steiner has insisted none of the 10 F1 teams are trying to "pull the wool over anybody's eyes" regarding budget cap loopholes.

The sport introduced a $145million cost cap for the first time last year to promote a more level playing field across the grid, with only certain aspects of each organisation excluded from the policed guidelines such as driver salaries, the next top three highest earners and hospitality costs, amongst others.

The cap margin was reduced by $5million for this season but with the regulation in its infancy, the possibility of exploiting a grey area is relatively high compared to more settled restrictions.

"I think there are always grey areas but I think the FIA is putting a lot of effort and good work into it to be on top as much as possible," said Steiner when asked about the budget cap's policing.

"There are always grey areas but normally the grey areas they have discussed between the financial people.

"Nobody's trying to pull the wool over anybody's eyes.

"It's like one of those things; if you find grey area to exploit it, but I think there are not a lot of loopholes to do anything which wouldn’t end up in being big penalties."

Williams - "Good cooperation" between teams and FIA

As ever with a new regulation set, the teams and F1's governing body, the FIA, work together to tie-up loose ends to ensure the smoothest implementation of rules as possible.

Explaining the work done between both sides of the rulebook, Williams team principal and CEO Jost Capito added: "I think it's safe to say exactly the same and the amount of work we do with the FIA - each team does with the FIA on the cost cap, on the policing of that is immense.

"I think there are a lot of discussions with the finance guys of the team with the FIA, how to still improve that. If a team identifies a grey area, I think there [is] discussion that comes up in that group.

"It's just now we filed after the first year and, of course, it's such a complex system, it has to be further developed.

"I think there is good cooperation within all the finance directors of the teams to develop it further. But it's a lot of work with the FIA too and that's… they police it pretty well."

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