F1 News: Guenther Steiner Reveals How The Cost Cap Was Crucial For Haas' Survival
Haas team principal Guenther Steiner has revealed the pivotal role of the Formula 1 cost cap in ensuring the American team's continued participation in the sport.
Key Takeaways:
- The Impact of the Cost Cap on Haas: Steiner openly admitted that without the cost cap, implemented since 2021, the Haas F1 Team "wouldn't be here anymore."
- Cost Cap as a Tool for Competitive Balance: The cost cap prevents wealthier teams from overpowering others through financial might. It's not a flawless solution and doesn't yield immediate results, but it has garnered appreciation for its role in promoting a more fair competition.
- Haas' Journey Through Financial Uncertainty: Steiner reflected on the tough years of 2020 and 2021, filled with uncertainty about the team's future in Formula 1. He noted the team's strong comeback in 2022 and their continued progress in 2023, attributing a part of this success to the cost cap's implementation.
The introduction of a spending limit in Formula 1 has been a subject of much debate and discussion. However, Haas team principal Guenther Steiner has provided a stark perspective on this issue. Speaking to the KTM Summer Grill, Steiner didn't mince words about the cost cap's crucial role.
“In general, without the cost cap, I think Haas wouldn’t be here anymore.
“So would not a few other teams, because the gap just got too big, and it was all about how much money can you spend?”
Reflecting on Haas' journey, Steiner provided insight into the team's recent past and their trajectory.
“2020 and ’21 were very tough years for us because we didn’t know if we are staying around in Formula 1 or not,” he added when asked about the direction of the current team.
“But in ’22, from where we were, we came back – I wouldn’t say mega strong – but fairly strong and then obviously we wanted to build on that one.
“In the beginning of ’23, we built on it and came back good, but then, I don’t want to bore you again with that story, it didn’t go the right direction.
“But I think the cost cap in general is very good for Formula 1.”