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F1 teams get indexed budget cap increase to stem inflation
Formula One Management, the FIA and the sport's teams have agreed on a marginal increase of this year's $140 million budget cap to help stem inflation pressures. This year's cost cap decreased from $145 million in 2021 to $140 million, but rampant inflation, higher energy and freight costs and global supply chain issues have put a significant financial burden on all teams this season. F1's top teams all warned that it would be near impossible for them to not overrun this year's $140 million threshold due to global inflation pressures. Despite F1's smaller outfits operating under the cost cap, the bigger teams urged the FIA to take action, which it has done along with F1 in a meeting on...
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