Ferrari ready to invest for "significantly more expensive" 2020

Ferrari says it is prepared to invest more money in its Formula 1 team, including building a new simulator, as it expects a "significantly more expensive" 2020.

Ferrari ready to invest for "significantly more expensive" 2020

The Italian team's defeat to Mercedes in 2019 ensured it ended the decade without a championship success in F1, as its title drought stretched to an 11th season.

However, Ferrari CEO Louis Camilleri, speaking alongside team principal Mattia Binotto at a media lunch attended by Motorsport.com, said that a "record" financial year for the car company, including the launch of the SF90 Stradale hybrid, had led to "a lot of smiling faces" at Maranello.

He pledged that strong financial returns would boost the F1 programme too, because "we are one company and the car business funds Mattia's business".

"We're also prepared to invest," said Camilleri. "And luckily the car business can support those investments, not only in terms of people, but also in terms of infrastructure."

Read Also:

One of those investments is the build of a new simulator, which is already under way.

That project will coincide with Ferrari's development of its 2020 car, for which Ferrari has overhauled the engine and aerodynamic design, and the preparation for 2021.

F1 will introduce sweeping technical changes for 2021 alongside a raft of other new elements, including a cost cap – which will slash Ferrari's budget to $175m, but not until after the 2021 car is developed.

"Yes, it will be significantly more expensive," Binotto said when asked by Motorsport.com about the impact on the team's budget next year.

"The budget we've got available is the one that's needed. Certainly, the number of projects in parallel are significantly more compared to the past.

"We all started very early [on the 2021 car]. So yes, there will be significant extra budget next year, not only about money but resources – extra people would be required to run the programmes.

"I think it's got to be a situation to be managed right now."

While budgets will have to reduce significantly after next year, driver salaries are exempt from the incoming cap.

That has led to suggestions drivers will be able to demand more money from teams, particularly if the rules overhaul is successful and the cars become more closely matched.

However, asked if he was worried about the potential for driver salaries to rocket, Camilleri said: "I'm not unduly concerned."

Ferrari had already upped its budget for 2019, Binotto's first year in charge, only to be disappointed by a winless first half of the season and a latest defeat to Mercedes.
However, Camilleri said he was very pleased by what he has seen from his new team principal.

"We need patience, we need stability and serenity," he said. "If you look back in the history of Formula 1, where teams have done very well, be it McLaren, Ferrari in the good old days, Red Bull or today Mercedes, there is one common thread, which was that there was a lot of stability within the team.

"They learned to work very closely together. That is something we are very focused on. Mattia has been spending a lot of time to ensure that we have a cohesive, united team."

shares
comments
How Hulkenberg went from "instrumental" to out at Renault

Previous article

How Hulkenberg went from "instrumental" to out at Renault

Next article

Albon feels like he "floated" through rookie F1 season

Albon feels like he "floated" through rookie F1 season
Load comments

About this article

Series Formula 1
Teams Scuderia Ferrari
Author Scott Mitchell
How Brabham’s one-hit wonder was boxed into a corner Prime

How Brabham’s one-hit wonder was boxed into a corner

The Brabham BT46B raced once, won once, then vanished – or did it? STUART CODLING reveals the story of the car which was never actually banned…

Formula 1
May 11, 2021
The changes Barcelona needs to provide a modern-day F1 spectacle Prime

The changes Barcelona needs to provide a modern-day F1 spectacle

Formula 1’s visits to Circuit de Barcelona-Catalunya over recent years have been met with familiar criticisms despite tweaks here and there to the track to improve racing. With the 2021 Spanish Grand Prix largely going the same way, proper solutions need to be followed to achieve F1’s wider targets

Formula 1
May 10, 2021
Spanish Grand Prix Driver Ratings Prime

Spanish Grand Prix Driver Ratings

Often described as Formula 1's laboratory, the Circuit de Catalunya-Barcelona gave the clearest demonstration yet of the pecking order in 2021. And it's the key discrepancies from that order which illuminate who is excelling, and who needs to hit the reset button.

Formula 1
May 10, 2021
How Red Bull's deja vu set Hamilton on the winning path in Spain Prime

How Red Bull's deja vu set Hamilton on the winning path in Spain

An aggressive first corner move from Max Verstappen appeared to have set the Red Bull driver on course for victory in the Spanish Grand Prix. But canny strategy from Mercedes - combined with the absence of Red Bull's number two from the lead group - allowed Lewis Hamilton to pull off a demoralising reversal

Formula 1
May 10, 2021
The Barcelona practice times that prove Red Bull has hidden pace Prime

The Barcelona practice times that prove Red Bull has hidden pace

Lewis Hamilton led the way in Friday practice for the 2021 Spanish Grand Prix, but there was one major encouraging sign for Red Bull. However, making good on that gain will require Max Verstappen to avoid repeating a mistake that left him well down the FP2 order...

Formula 1
May 7, 2021
Why McLaren doesn’t doubt Ricciardo can escape his ‘dark’ place Prime

Why McLaren doesn’t doubt Ricciardo can escape his ‘dark’ place

Three points finishes from as many starts represents a decent opening innings on paper, but Daniel Ricciardo has endured a tough start to his McLaren career - only magnified his teammate's excellent form. Yet both he and the team have good reason to expect a turnaround soon.

Formula 1
May 6, 2021
What needs to “change” for Red Bull is ending Verstappen’s errors Prime

What needs to “change” for Red Bull is ending Verstappen’s errors

OPINION: Going up against the dominant force of Mercedes and Lewis Hamilton was always going to demand the best from Red Bull and Max Verstappen. But after making a couple more errors during the Portuguese Grand Prix, the Dutch driver showed there's a small gap he still needs to close in the 2021 Formula 1 title fight.

Formula 1
May 5, 2021
The "subtle" Red Bull upgrades that kept it in the Portugal F1 mix Prime

The "subtle" Red Bull upgrades that kept it in the Portugal F1 mix

Red Bull's Portuguese Grand Prix fortunes were decidedly second best to Mercedes', but the result skews the potential that the team had at Portimao. With a new set of updates, the team looks good going forward into the rest of 2021's spicy F1 competition

Formula 1
May 3, 2021