Aston Martin’s chief financial officer believes the next “battlefield” in Formula 1 will be which team can use its budget the most wisely.
For the first time in Formula 1 history, a budget cap of $ 145 million went into effect this season, with limited spending across the grid.
This will be reduced to $ 140 million in 2022 and to $ 135 million in 2023 to make the sport more financially sustainable.
Aston Martin CFO Robert Yeowart explained how various teams will be impacted by the budget constraints, with the Silverstone-based team actively expanding its workforce to 800 in an attempt to keep up with the top.
“We’re a little different from some other teams,” he said during a media talk in collaboration with team partner IFS, quoted by MotorsportWeek.com.
“The big three” [Mercedes, Red Bull and Ferrari] need to adapt and shrink as we plan our future size to match the cost cap so that we actually grow towards it.
“I think what will happen in the next few years, when the cap drops to $ 135 million in 2023, the teams will all have grown or shrunk on it, and then the battlefield will be who spends it.” the best.
“It depends on who understands what they are spending it on, the best ratio of pounds per lap, who does it right, who makes sure they get the most out of their wealth.
“And then the analysis, the reporting tools that allow us to really understand what we are spending – that will be crucial.
“I think that will be almost as beneficial as you interpret the technical regulations that technicians have been making for years and years.
“They absolutely know how to spot all the little loopholes and all the wrinkles [in the regulations], I think this will be really interesting for us. “
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Yeowart says the subtleties are yet to be ironed out of which spending is within budget and which is excluded from which financial staff, top and bottom, are already seeking advice – hoping that a level playing field will eventually have the same effect on the race on the way.
“I think at the moment, since it’s just beginning, we’re seeing a lot of clarifications from the teams,” said Yeowart.
“Some of them are at a relatively low level, a lot of guidelines have been issued by the FIA that stand alongside the regulations themselves and give the meaning a little color.
“The best example is probably health and safety; Health and safety are excluded, where does it begin and where does it end? It’s pretty difficult to set limits.
“At one point it was that the rear impact structure, as that is safety, is the monocoque, as that is safety; Could you rule out all of these things? So you need to tighten up some of the definitions at the beginning.
“I think by now we have reached some common sense within the CFO group on these things.
“The more we tighten these definitions, the more the level playing field.”
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