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- 3.1 per cent inflation allowance added to overall cost cap
- Alpine the only team to oppose the increase
Formula One has granted a 3.1 per cent increase to its cost cap in response to inflationary pressure, amounting to a boost of around US$4.3 million for teams.
The cost cap for the season has now increased to US$145.5 million and will also increase next season. The 2023 season was originally set to include a limit of US$135 million, but at least US$3.6 million will be added for the additional races currently planned. However, this inflation adjustment figure is not the final amount, as the International Automobile Federation (FIA) will make a further adjustment based on the G7 inflation figure in April 2023.
Despite securing an increase in its spending power, Red Bull team principal Christian Horner has made it clear that this is still not enough.
“Is it enough? Not compared to inflation and what it is today,” Horner told Motorsport.com.
“It’s not enough for us, and it’s too much for the little ones. So it’s a compromise, and a consensus was found in the end.”
Horner also voiced concerns that Red Bull may struggle to stay within the cost cap, saying the team will “have to everything [they] can” to comply.
The final figure is almost exactly what Auto Motor und Sport reported just two weeks prior, although it was unclear if enough teams would support the motion.
Nine of the ten Formula One teams voted the increase through, with only Alpine opposing the inflation allowance.
“I’m obliged to accept it because of the governance,” Alpine team principal Otmar Szafnauer told Motorsport.com.
“Eight teams voted and then it goes through. And now, that’s the new rule, and we’ve got to follow it. It’s difficult to start changing rules in the middle of the season.”
Alpine were initially one of four teams opposed to the deal, but Alfa Romeo, Haas, and Williams all changed their minds.
Alfa Romeo team principal Frédéric Vasseur said that it was “important to find a deal”, while Haas team principal Günther Steiner said “it’s a compromise, and we had to come to a conclusion”.