Haas

Steiner makes Haas budget cap confession

Ian Parkes Saturday 17 December 2022 14:00

Additional reporting by Ewan Gale

Guenther Steiner has confirmed Haas would not be in F1 today without the introduction of the budget cap.

The sport ushered in new financial regulations for 2021 that stipulated a set amount of money each team could spend per season.

The initial $145million limit was reduced by $5m for the past campaign, with the figure dropping to £135m for the next three years.

The cap has been lauded as a game-changer since being introduced, giving smaller, independent teams the opportunity to at least perform on a level financial playing field alongside the big-hitting manufacturers.

It has also moved to end the quick demise of new teams after the loss of HRT, Manor [which had evolved from Marussia and Virgin] and Caterham in the 2010s.

Asked whether Haas would be at risk of collapse without the budget cap, speaking to GPFans in an end-of-season interview, Steiner said: “We wouldn't be here anymore already, not going under.

“In 2020, without that, we couldn't have done it. Without the cap coming in, it would not have worked.

“It's the best thing that’s happened to Formula 1.

“But if you reflect on it, it took us so long [to implement]. This was suggested a long time ago, and fair play to whoever was there.

"It was Jean [Todt, former FIA president] and Chase [Carey, former F1 CEO] who pushed it through.”

Latest News

GPFans Recap

Ricciardo tipped for NEW F1 role as star makes COMEBACK at Las Vegas Grand Prix - GPFans Recap

2 hours ago

Las Vegas Grand Prix

F1 Las Vegas Grand Prix: The music artists set to star at STUNNING event

3 hours ago

Latest F1 News

Mercedes star SHOCKED by FIA reaction after damning drivers' statement

Yesterday 21:33

Latest F1 News

Verstappen reveals F1 RETIREMENT clue ahead of Las Vegas GP

Yesterday 20:47

Lewis Hamilton

Hamilton drops Mercedes BOMBSHELL ahead of Las Vegas GP

Yesterday 20:02

Las Vegas Grand Prix

F1 star reveals DEPORTATION threat at Las Vegas Grand Prix

Yesterday 19:18

More news

F1 Race Calendar 2024

GP AUSTRIA 28 - 30 Jun

George Russell

GP GREAT BRITAIN 5 - 7 Jul

Lewis Hamilton

GP HUNGARY 19 - 21 Jul

Oscar Piastri

GP BELGIUM 26 - 28 Jul

Lewis Hamilton

GP NETHERLANDS 23 - 25 Aug

Lando Norris

GP ITALY 30 Aug - 1 Sep

Charles Leclerc

GP AZERBAIJAN 13 - 15 Sep

Oscar Piastri

GP SINGAPORE 20 - 22 Sep

Lando Norris

GP USA 18 - 20 Oct

Charles Leclerc

GP MEXICO 25 - 27 Oct

GP QATAR 29 Nov - 1 Dec

GP ABU DHABI 6 - 8 Dec

Complete kalender 2024

F1 News 24/7

Races

About GPFans

GPFans is a multi-platform, multi-language brand dedicated to Formula One coverage. We bring you all the ins and outs of the sport, 24/7, everything from up-to-the-minute news and features to the latest viral stories and clips.

We believe that a new generation of exciting, outspoken drivers will make F1 more popular than ever before, and we want to give our users access to as much of their heroes as possible, on and off the track. From Lewis Hamilton to Max Verstappen, Daniel Ricciardo to Sebastian Vettel, we provide in-depth analysis of every every Grand Prix in the season, from Australia to Abu Dhabi.

With Formula One under the new ownership of Liberty Media, how the sport is being covered is evolving, and GPFans will look to be at the heart of this progression into new media, as one of the fastest-growing sites covering the king of motorsports.

Follow us on your favorite social media channel

Corporate & Media

Innovatieweg 20C
7007 CD, Doetinchem, Netherlands
+31645516860

CHOOSE YOUR COUNTRY

Steiner makes Haas budget cap confession

Steiner makes Haas budget cap confession