F1 increases budget cap to US$1.8m per GP

Adjustments applies to additional races above total of 21.
  • First meeting since Ben Sulayem stepped back from F1
  • Budget cap increase applies to Las Vegas and Abu Dhabi races
  • FIA to have more oversight on teams' adherence with financial regulations

Formula One will increase its budget cap to US$1.8 million per round following the first commission meeting of 2023.

Chaired by Formula One president Stefano Domenicali and newly appointed single seater director Nikolas Tombazis, this is the first meeting since International Automobile Federation (FIA) president Mohammed Ben Sulayem stepped back from the day-to-day running of the series.

The decision to increase the budget cap applies to additional races over a total of 21, so this season this applies to the Las Vegas and Abu Dhabi Grands Prix. The reasoning was that the trend of additional races being added to the calendar has been towards flyaways, which are usually more expensive.

Other sporting and technical regulations were also slightly amended, such as the introduction of a winter shutdown period for both competitors and power unit manufacturers, reflecting the shutdown during the summer break.

Last season's full points farce at the Japanese Grand Prix will also not be repeated, as the wording of the regulation has been updated to avoid a similar finish in future.

The FIA auding team is also set to have easier access to team factories in order to police the adherence of the teams and power unit manufacturers to the financial regulations, and to the operational limitations of the technical and sporting regulations, following last season's controversial budget cap transgressions by Red Bull.

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