Louis Camilleri said that his support of a budget restriction would depend on the details.GETTY IMAGES
Ferrari Formula 1 President Louis Camilleri said that Liberty Media's proposed budget cap is "not exactly close to becoming reality," according to GMM. Liberty wants to "improve the sport by limiting the huge budgets of the top teams." The proposed budget cap is believed to be in the neighborhood of $150M -- a number that "could cut the top teams' budgets in half, depending on what expenses are ultimately included in the number." Camilleri said, "I think there has been progress made on the technical regulations for 2021. But if we talk about the economics and the introduction of budget restrictions, there is no progress at all. In my opinion, there is sense in such a restriction, but as always, everything depends on the details. I think that, in the end, there will be an understanding, but so far there is not one" (GMM, 11/6).
'REINVENT THIS COMPETITION': AUTOWEEK's Mike Pryson reported Renault Sport Racing President Jerome Stoll said that Formula 1 is "due for a serious overhaul." During last month's U.S. Grand Prix, Stoll said, "We have to reinvent this competition. It has to be reinvented. It's clear that when you see that a car can start first and end the race first without any -- or not enough -- conflict, this might be boring. We have to work on this in order to give more cars participating in the race a chance to go on the podium." One thing that Stoll says is "not on the table is any kind of merger with Formula E." F1 is "not going full electric anytime soon." Stoll: "When you read the press, people are mentioning that maybe the two competitions will merge one day or another -- Formula E and Formula 1 -- because everything will be electrified. I'm not sure of that. For the time being, definitely we are in two worlds which are completely different. When you look at Formula E, despite the fact that it's growing, which is true, it's still 1 to 10 or 1 to 20 in terms of attendance compared to Formula 1. It's a big, big, big difference" (AUTOWEEK, 11/6).
