Formula One cancels Russian Grand Prix following invasion of Ukraine
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Red Bull boss Christian Horner has once again expressed his fears with the FIA regarding the sport’s budget cap. F1 teams are required to work within a £107million budget this season – a near £4m decrease less than they could spend during the dramatic 2021 season.
Energy prices have spiked due to Russia’s invasion of Ukraine and inflation has skyrocketed in recent months. This is set to affect big corporations and the impending squeeze could leave F1 teams in a precarious position.
“It’s unhealthy to have a Sword of Damocles hanging over a team,” Red Bull Racing’s team boss told City A.M. “I don’t think we want a communist state where everybody has exactly the same budget and the same looking cars.”
Horner wants the FIA to address the situation with urgency as he doesn’t expect to see a reverse of the current trend, especially with Russia-Ukraine conflict still ongoing. “It is a very serious problem we have to look at and address,” he added.
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“I think this is a very real problem because I think we have already seen extremely high inflation. What you have to remember is that when the budget cap was set back in the midst of the pandemic in the middle of 2020, nobody could have foreseen the circumstances we have in the world today.”
“What we see going on in the world is only going to drive prices one way. Inflation looks like it could hit record amounts – we are seeing that impact already on things like air freight. This has a one-to-one impact on people’s jobs and livelihoods and so I think it is the duty of the regulator to look at this with a degree of urgency to make sure the relief is put in place to take into account what is going on in the world with the cost of living increases we are all going to see.”
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Horner’s Red Bull are gearing up for the start of the new season and will be bouyed with Max Verstappen who set to the fastest time of the second round of testing in Bahrain last week. The 48-year-old commented on the debut of rivals Mercedes’ new ‘spaceship’ mirrors during testing, which will be anaylsed by the FIA’s Technology Advisory Committee after claims the car goes against the spirit of the rules.
Horner said: “We certainly don’t want to get into a mirror war. So much time in these technical meetings over the last 10 years or so have been about the function of the mirrors and whether they become wings or not, at least probably not in the intention. So in the right forum, in the TAC meeting they have, that will probably be addressed and discussed there.”
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