Renault: Agreeing cost cap more urgent than 2021 tech specs

Renault team principal Cyril Abiteboul believes that agreeing a new set of financial regulations should be the first priority in discussions over Formula 1's post-2021 future.

Renault: Agreeing cost cap more urgent than 2021 tech specs

A cost cap is one of the key elements mooted for F1's 2021 rules overhaul, along with revenue distribution, governance and sporting and technical regulations.

It has long been a subject of debate because teams have questioned how fairly it could be implemented, especially with regard to teams backed by manufacturers.

It’s anticipated that next week’s meetings of the Strategy Group and F1 commission in London will see some progress made.

“There is a lots of dialogue between the teams and F1 and the FIA, in particular on the budget cap,” Abiteboul told Motorsport.com. “That’s a very complex set of new regulations, and something that did not exist.

“So every day, every week, we are making progress to address some of the concerns.

Read also:

"As far as Renault is concerned because we think that something needs to be seriously done to contain the costs to be competitive in F1, we are massively in support of the budget cap.

“Is it the perfect answer? Maybe not. Is it the best answer? Probably.

"That’s why we’re working very actively to make it as robust as possible, and according to what will be our assessment at the end, we will see if we can be in favour, and we think it is a proper deterrent, or not. Lots of progress is being done on that aspect.”

Abiteboul says that it’s important that decisions are made soon, so that teams and manufacturers can start planning around the changes – and indeed decide whether or not they wish to sign a new Concorde Agreement and continue in the sport.

“I think we all accept that everyone needs to have some form of clarity before the summer. In order to do that we need to seriously get things ticked off, in particular on the financial side, on the governance.

“For me the three things that can’t wait are the financial distribution, the governance, and the budget cap – anything that’s related to the business, and the sustainability of the business model is important, because that’s what will define whether or not F1 is still a compelling and attractive platform for 2021.

“Then I would almost say that the set of regulations is secondary. Once the budget cap is introduced then we move the exposure to the cost of the regulations, and then they can define almost any regulation they want.

"That’s our opinion. That’s why this side in particularly is very important to be sorted.”

Abiteboul acknowledges that it’s not easy for F1 and the FIA to come up with solutions that will satisfy all the teams.

“I think it’s complex. They trying to reconcile teams that have different business models, very distinctive set-ups.

"Right now it looks like they are not prepared to upset anyone. The risk and danger is that by doing that they end up upsetting everyone.

“That’s why I think it’s taking a lot of time to find something that would be able to satisfy everyone.

"I can see where they’re coming from, I can understand their point. But I think the main thing to do is to make sure that F1 is and remains attractive.

“Right now it looks like they are afraid of losing one team, two teams, three teams. I think what’s really important is instead of having to live in fear we make F1 a platform that is again attractive enough to attract enough teams, so that you are not held to ransom by anyone.”

For PRIME users:

shares
comments
Overtaking Ferrari shows Honda power now "enormous" - Wolff

Previous article

Overtaking Ferrari shows Honda power now "enormous" - Wolff

Next article

How Formula 1 arrived at its vital crunch meeting

How Formula 1 arrived at its vital crunch meeting
Load comments

About this article

Series Formula 1
Teams Renault F1 Team
Author Adam Cooper
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
Portuguese Grand Prix driver ratings Prime

Portuguese Grand Prix driver ratings

The 2021 Portuguese GP will for several drivers go down as a weekend of missed opportunities amid imperfect track conditions that caused struggles with tyre warm-up. But the performances of a select few stood out from the crowd

Formula 1
May 3, 2021
The five key tests Hamilton passed to claim Portugal victory Prime

The five key tests Hamilton passed to claim Portugal victory

Just as he did in 2020, Lewis Hamilton had to come from behind to win the 2021 Portuguese Grand Prix. Only this time there were two rivals he had to pass, among the several challenges he had to overcome, on his way to securing a 97th grand prix victory

Formula 1
May 3, 2021
The data that leaves both Red Bull, Mercedes uncertain of supremacy Prime

The data that leaves both Red Bull, Mercedes uncertain of supremacy

Lewis Hamilton topped the crucial FP2 session on Friday as F1 returned to Portugal, but his Mercedes team cannot be sure it has the edge on its Red Bull rivals. As cool temperatures and wind combine with the still-slippery surface to present drivers with quandaries over set-up and tyre warmup, there's still everything to play for come qualifying.

Formula 1
May 1, 2021
How in-form Norris is staking his claim as Britain's next F1 champion Prime

How in-form Norris is staking his claim as Britain's next F1 champion

As a highly-rated Mercedes junior, George Russell is naturally billed as Lewis Hamilton's heir apparent where Britain's next Formula 1 champion is concerned. But he may face competition for that accolade from Lando Norris, fresh from a confidence-boosting run to third at Imola whose rise is being accelerated by his McLaren team’s revival

Formula 1
Apr 29, 2021