Ferrari cuts this year's spending 'considerably' as 2021 F1 season looms

Image: TeamTalk
Image: TeamTalk

Ferrari principal Mattia Binotto is convinced that the development gap between the top team and the rest will remain in 2021, but the new regulations will eventually even things out.

New sporting, technical and financial rules will be brought into Formula 1 from 2021 in an attempt to make the series more competitive and financially stable for teams.

In particular, the new $175million-per-season budget cap it’s hoped will narrow the gulf between F1’s top three - Mercedes, Ferrari and Red Bull - and the midfield teams.

Cutting costs

But Binotto has warned that little will change he believes in the current order when 2021 arrives – Ferrari have already announced that they will up their spending considerably this year in preparation.

Do you think the 2021 regulations will ensure closer competition between teams? Email us your thoughts.

Binotto told La Gazzetta dello Sport: “These new rules will provide stability to F1 for the next five years, but next year I think the teams with more resources will have a competitive advantage over the others. In 2021, the scenario will not be very different from what we have today.”

But the Ferrari boss does see teams hitting a “ceiling of performance” fairly soon under the new rules.

READ: Ferrari boss supports 'economic sustainability' in F1

He explained: “Certainly the new regulations are designed in such a way that the degree of freedom of development will be greatly reduced compared to today. I am quite convinced that we will arrive at a ceiling of performance soon enough. Within three years of the regulations’ introduction, the performance gap between the first and last will be reduced.

“In short, the goal that Liberty Media has set itself to level the playing field can be achieved, but it won’t happen immediately.”

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