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Liberty proposes $150m budget cap
Following days, weeks, months of speculation, this morning F1's owners, Liberty Media, laid out its blueprint for the future of the sport. Rather than being a meeting, representatives of all ten teams were present as Liberty offered its proposals, the presentation lasting around 75 minutes. At the end of the presentation, the team representatives were each handed a sheet of document which contained further details of the proposals. It's understood that Liberty is intending a $150m budget cap but this would not include driver salaries or key executives or marketing budget. The budget cap would be introduced in two stages for the benefit of the bigger teams which would clearly have to...
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