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Binotto: Ferrari could leave Formula 1 over lower cost cap
Ferrari would consider leaving Formula 1 if the impending cost cap continues to be lowered, says team principal Mattia Binotto. Set to be introduced in 2021, the financial effects of the COVID-19 pandemic have seen teams already agree to reduce the cap from its original figure of $175 million to a number in the $145m range. However, a group of smaller teams led by McLaren are pushing for that number to be reduced to as low as $100m in order to further safeguard their financial well being — something Binotto maintains is untenable for his outfit. “The $145m level is already a new and demanding request compared to what was set out last June,” he said to The Guardian. “It cannot...
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