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F1 tweaks budget cap to reflect inflation
Formula One approved a small increase to its $140 million per team annual budget cap on Friday to help with the burden of inflation and rising energy and freight bills. The change was announced by the governing FIA after a meeting of the Formula One commission at the Austrian Grand Prix and was approved by the required majority and nine of the 10 teams. "Rapidly increasing inflation rates since the end of 2021 have affected Formula One teams, and it is the opinion of the FIA and Formula One that this creates a risk of noncompliance with the financial regulations if actions are not taken," the governing body said. Editor's Picks Verstappen: Good Lewis can take an apex now
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