12/03/2022
NEWS STORY
Concerned at rising energy costs, interest rates and inflation, Christian Horner has called for an urgent review of the budget cap.
If ever proof were needed that F1 lives in its own rarefied atmosphere, indeed on another planet, Planet Paddock, as the rest of us fear whether World War 3 is around the corner, as we wonder how we are going to deal with higher food and energy costs, as the media bombards us daily with tales of panic and horror, Red Bull boss, Christian Horner is concerned that his team will not be able to survive on $140m a year.
This just weeks after the Austrian team signed a £200m 5-year deal with Max Verstappen.
"What you have to remember is when the budget cap was set back in the midst of the pandemic, in the middle of 2020, nobody could have foreseen the circumstances that we have in the world today," he told reporters.
"What we see going on in the world is only going to drive prices one way," he continued. "Inflation looks like it could hit record amounts. We're seeing that impact already on things like air freight just to this event.
"I think it's a very serious problem that we have to look at and address because this has a one-to-one impact on people's jobs and livelihoods," he added.
"It's the duty of the regulator to look at this with a degree of urgency to make sure that the relief is put in place to take into account what's going on in the world with the cost of living increases that we're all going to see," he concluded.
"It's always important to apply common sense and with these additional challenges that came up in the last weeks and months in terms of inflation and so on, I think it's important to simply have a discussion about it," agreed McLaren's Andreas Seidl.
"We are absolutely up for that discussion, we are open also to solutions or potential adjustments as long as everything is happening within reason."
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