F1 team principal makes brutally honest cost cap admission

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.

READ MORE: F1 2024 car launches: Dates, times and how to watch live

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

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.

“So would not a few other teams, because the gap just got too big, and it was all about how much money can you spend?”

“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.”

READ MORE: Verstappen tempted by potential legendary drive

Related