F1 team principal makes brutally honest cost cap admission

Guenther Steiner, Christian Horner, Austrian GP, 2023 — Photo: © LAT Images

Latest F1 News

F1 team principal makes brutally honest cost cap admission

One F1 team principal is especially grateful for the cost cap

Matthew Hobkinson Lead Editor

F1 Editor & Journalist

Monday 8 January 2024 10:57

Haas F1 team principal Guenther Steiner has admitted that the team 'wouldn't be here anymore' if it were not for the cost cap.

Since 2021, a limit has now been introduced as to how much F1 teams can spend developing and building their cars.

Brought in to try and level the playing field, it has prevented teams who are able to simply throw money at problems from outmuscling the field in the financial arena away from the track.

Although not a perfect solution – nor one that will have overnight success – there has been plenty of praise for its implementation.

F1 team principal Guenther Steiner is grateful for the cost cap

The idea was brought in to allow cars like Haas to one day challenge the likes of Red Bull

Article continues under video

And Steiner has now admitted that Haas may well not be here if it was not for the introduction of the cost cap.

Steiner: F1 cost cap crucial for the sport

“In general, without the cost cap, I think Haas wouldn’t be here anymore,” Steiner told the KTM Summer Grill.

The cost cap aims to bring greater levels of competition to F1

“2020 and ’21 were very tough years for us because we didn’t know if we are staying around in Formula 1 or not,” he added when asked about the direction of the current team.

“But in ’22, from where we were, we came back – I wouldn’t say mega strong – but fairly strong and then obviously we wanted to build on that one.

“In the beginning of ’23, we built on it and came back good, but then, I don’t want to bore you again with that story, it didn’t go the right direction.

“But I think the cost cap in general is very good for Formula 1.”

Red Bull Mercedes Guenther Steiner Haas F1 Team