In the round-up: Lewis Hamilton says it is a “concern” that F1 teams may not be deterred by the rules from exceeding the sport’s cost cap.
In brief
Lack of deterrent for breaching cost cap a concern – Hamilton
Hamilton does not believe F1’s financial regulations deter teams from exceeding the total budget allowance. Red Bull were handed a fine and received limitations on their aerodynamic testing allowance for a year last season after the FIA determined they overspent the budget cap during the 2021 season. Williams and Aston Martin also received fines for procedural breaches over the season.
With the FIA currently auditing all ten teams’ submissions for the 2022 season, Hamilton said the possibility that teams who saw the punishment Red Bull received for a material overspent being tempted to do the same was “definitely a concern.”
“I mean, there wasn’t really a big punishment last time, so there’ll be people that’ll probably go for it again and know they’re just going to get slap on the wrist,” he told Sky.
F1 CEO Stefano Domenicali recently said teams who exceed the budget cap should face sporting penalties.
FIA working to speed up budget cap auditing process
The FIA says that it is working to speed up how its financial regulations team audits each F1 teams’ submissions for the budget cap for the previous season.
Teams must submit their full accounts for the last year by the end of the financial year on March 31st. However, last year, final punishments for breaches were only announced in October.
Federico Lodi, the FIA’s financial regulations director for F1 and Formula E, says the governing body have more than doubled its permanent staff to help try and speed up the process.
“It’s clear that there is an interest from the stakeholders to have a quick outcome,” Lodi said. “We, as the FIA, understand these requirements, so we have strengthened the department, and now we have 10 full-time employees working on Formula 1 financial regulation. This is a significant increase over last year, when it was just four.
“However, it is still clear that it’s difficult to commit to a rigid timeline, as there are many variables that need to be taken into account. First, there are the findings themselves – what we identify and what we need to dig into further. On top of that, we also have to take into account the fact that we do the review with the support of the team, and obviously, the finance department of the team is also busy with running its business; they may also have a reporting commitment to their shareholders for example. So, while we need to work as quickly as possible, for us the most important thing is not to undermine the robustness of the process.”
Williams’ progress puts pressure on us – Zhou
Alfa Romeo driver Zhou Guanyu says that being overtaken by Williams in the constructors’ championship increases the pressure on his team.
Williams have scored ten points over the last three rounds to jump from tenth and last to seventh, two places ahead of Alfa Romeo. Zhou says his team need to make sure its upgrades over the rest of the season are effective to be able to battle back against Williams.
“We were very close together with Williams, and also Haas, for the whole season and unfortunately got overtaken for that last weekend, so it’s not ideal,” he said. “The pressure is high, but I think the main focus is really to get more out of the package, to be quicker in terms of developing more upgrades coming through the second half of the season.”
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Links
Motor racing links of interest:
Formula 1 and Sky Group announce details of first ever children’s broadcast (Formula 1)
‘Designed specifically for this broadcast, the children’s international feed will feature 3D augmented graphics, child-friendly team radio transmissions, technical explainers and a bespoke package of colourful graphics and animations. Formula 1 has also created exclusive cartoon avatars for each of the 20 drivers that will be used throughout Sunday’s race – further bringing the broadcast to life.’
Max Chilton: ”For me the next best series is IndyCar, and when I say next best, in many ways I think it’s better because the racing is so pure. I did it for six years and it’s all the same cars, two different engine manufacturers, so it’s far less predictable than Formula 1, there’s plenty more overtakes, and very rarely will a driver win one weekend and then the next.”
‘The thieves who broke into the property in the province of Brescia on July 13, reportedly targeted loot worth £217,000, including the racing legend’s collection of Rolex watches, gold jewellery and clothes. The Italian Carabinieri are investigating the robbery. No arrests had been made so far.’
Formula E CEO takes swipe at Formula 1 over sustainability claims (City AM)
Formula E CEO Jeff Dodds: ”Let’s be clear, that (F1) is not a sustainable sport. I’ll give them credit for getting better but let’s not try and convince anybody that that’s a big sustainable sport, because it’s not. There is a market for Formula 1 and people like the series, and therefore I give them full credit for anything they’re doing to try and improve their existing position.”
Matthew Brabham joins Juncos Hollinger Racing for Iowa INDY NXT race (Juncos Holligner)
‘It’s going to be challenging, having missed the INDY NXT testing and races this year. However, my confidence is high as I was definitely the guy to beat on all the ovals last year. There are a few tricks to Iowa that I hope I can capitalize on again. The new Firestone tires will change things up a little and there are a lot of unknowns, but we will do our best to make sure we have a great run at Iowa. It’s a great feeling to be back.’
Glickenhaus Will Not Compete In The 6 Hours Of Fuji (Daily Sportscar)
‘The first draft of the 2023 FIA WEC Six Hours of Fuji entry list reveals that Glickenhaus Racing will not compete in the sixth round of the season in September. The list features 12 cars in the top class, with Glickenhaus’s #708 007 LMH the only absentee from the group of 13 Hypercars that took part in the 6 Hours of Monza weekend earlier this month.’
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