Ferrari F1 so far reports 2.5 million euros in damage bill for the 2021 season; brings up the problem of the F1 budget ceiling

Formula 1’s new budget cap has been a new headache for top teams as they need to cut spending to get below the $ 145 million cost cap. Both Mercedes and Red Bull Racing have discussed the issue over the winter as they had to lay off staff to cut their spending. However, as the season progressed, other unexpected issues emerged that made it difficult for teams to meet the cost cap. Ferrari F1, for example, reported that they are dissatisfied with the € 2.5 million damage bill that has been generated since the beginning of the 2021 season.

Ferrari has had a damage bill of 2.5 million euros since the beginning of the 2021 season

Ferrari F1 team principal Mattia Binotto suggested after the Hungarian GP that rivals whose drivers have caused collisions should pay for any damage done to another team. Aston Martin F1’s Lance Stroll defeated Ferrari’s Charles Leclerc in the first corner on the Hungaroring, finishing the Monegasque race. While not all teams agree that such a scenario is plausible, Binotto insists that he has valid reasons for it. Ferrari says they will have to pay 2.5 million euros in damages after reviewing bills from the first half of the 2021 season. According to Autosport, Binotto said:

“This is total damage, and sometimes we can harm ourselves so this is not” [just] other teams that harm ourselves. Well, of course there has been a lot of discussion that if there is an accident and there is a guilty driver and you are not at fault, and if you have suffered damage, should that be exempt from the budget cap? I think that is certainly an important point because I mentioned 2.5 million euros to show that the damage can be significant overall. So should we consider a different type of regulation in these cases? I think there is certainly merit for that. I think there are certainly no obvious solutions, but it is something that we will no doubt be discussing with the FIA, Formula 1 and the teams in the coming weeks to possibly address it to see if there is a solution for the future gives. “