F1 budget cap "vital" for Williams survival

Former Williams boss Jost Capito believes the F1 team "wouldn't exist anymore" had the budget cap not offered it a vital lifeline.

Capito left his position as CEO and team principal in December after being handed the reins following Dorilton Capital's acquisition of the outfit in 2020.

Despite being one of the most successful teams in F1 history, Williams has been reduced to the role of backmarker in recent years, finishing at the bottom of the constructors' standings in four of the last five campaigns.

Throughout that period, the team has struggled financially, and but for the budget cap, it would likely be out of business.

Speaking in an end-of-season interview with GPFans prior to his departure, Capito said: “The budget cap is good for Formula One and for everybody.

"Without the budget cap, Dorilton wouldn't have invested in Formula 1. It's quite possible that without the budget cap, Williams wouldn't exist anymore, so in that view, it's vital for Williams."

The budget cap prevents top teams from freely spending and is designed to gradually produce a level playing field, although Capito feels that is some way off.

Aware the full effect of the restrictions will take time to become fully evident, he added: "With Dorilton, we might have the money to invest more than others but with the budget cap, it's equalised.

“Basically it is good because with a big team they would outspend by so much and we would not be able to keep up.

“Now with the budget cap, I think over the years it will equalise. It's not one to three years, you have to look five to 10 years to make the teams more equal.”

Additional reporting by Sam Hall

Related

More F1 news

Latest F1 news

Red Bull swoop for Mercedes star and top insider is shocked by stunning signing

• 47 minutes ago

Abu Dhabi 2021 controversy revisited as Honda chief reveals favourite F1 moment

• 2 hours ago

The most expensive British car ever: Iconic 1990s McLaren F1 sells for $34M at auction

• 3 hours ago

'He seems so at peace': Kim Kardashian drops stunning photos of Lewis Hamilton Hawaii holiday

• Today 08:57

Former team principal comments could give Christian Horner a route back into F1

• Today 08:15

F1 News Today: Lewis Hamilton ‘ready’ for title charge as huge Mercedes frustration revealed

• Today 07:30