Breaking news
Formula 1
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.
Adam Cooper
Published: Mar 24, 2019, 11:56 AM
Copy link
Share on Viber
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:
We want your opinion!
What would you like to see on Motorsport.com?
Take our 5 minute survey.
- The Motorsport.com Team
Read and post comments
Read also :
Share Or Save This Story
Copy link
Share on Viber
Previous article Overtaking Ferrari shows Honda power now "enormous" - Wolff
Next article Honda eyes first Red Bull win by summer
Top Comments
There are no comments at the moment. Would you like to write one?
View More & Comment
More from
Adam Cooper
RB: Tsunoda “mentally on a different level” in 2024
Formula 1
Formula 1
Japanese GP
RB: Tsunoda “mentally on a different level” in 2024
Andretti planning F2 and F3 entries to promote US talent to F1 team
Formula 1
Formula 1
Andretti planning F2 and F3 entries to promote US talent to F1 team
Andretti F1 team formally opens new Silverstone facility
Formula 1
Formula 1
Andretti F1 team formally opens new Silverstone facility
More from
Renault F1 Team
On this day: Fernando Alonso wins the world title, Michael Schumacher retires from F1
Formula 1
Formula 1
Brazilian GP
On this day: Fernando Alonso wins the world title, Michael Schumacher retires from F1
“I went back to the car and cried” – Esteban Ocon opens up about his unexpected year on F1 sidelines
Formula 1
Formula 1
“I went back to the car and cried” – Esteban Ocon opens up about his unexpected year on F1 sidelines
You Ask The Questions: Robert Kubica
Formula 1
You Ask The Questions: Robert Kubica
Latest news
Max Verstappen puzzled by Q3 grip loss, but Austin shows how far Red Bull has progressed
Formula 1
F1 Formula 1
United States GP
33 min
Max Verstappen puzzled by Q3 grip loss, but Austin shows how far Red Bull has progressed
Carson Hocevar says Zane Smith feud is "pretty one-sided"
NASCAR Cup
NAS NASCAR Cup
Talladega II
2 h
Carson Hocevar says Zane Smith feud is "pretty one-sided"
Jack Miller says Australian GP cancellation “tough to swallow”: “It is pissing me off”
MotoGP
MGP MotoGP
Australian GP
2 h
Jack Miller says Australian GP cancellation “tough to swallow”: “It is pissing me off”
Max Verstappen reacts to COTA boss: "He can drive my car, after five laps he won't be able to walk"
Formula 1
F1 Formula 1
United States GP
3 h
Max Verstappen reacts to COTA boss: "He can drive my car, after five laps he won't be able to walk"
Feature
Discover prime content
Subscribe and access Motorsport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
You have 2 options:
- Become a subscriber.
- Disable your adblocker.
Subscribe now Already subscribed? Sign in here
Already disabled your adblocker?
Reload page
Manage Alerts
Subscribe