Renault: Agreeing cost cap more urgent than 2021 tech specs

Renault team principal Cyril Abiteboul believes that agreeing a new set of financial regulations should be the first priority in discussions over Formula 1's post-2021 future.

Renault: Agreeing cost cap more urgent than 2021 tech specs

A cost cap is one of the key elements mooted for F1's 2021 rules overhaul, along with revenue distribution, governance and sporting and technical regulations.

It has long been a subject of debate because teams have questioned how fairly it could be implemented, especially with regard to teams backed by manufacturers.

It’s anticipated that next week’s meetings of the Strategy Group and F1 commission in London will see some progress made.

“There is a lots of dialogue between the teams and F1 and the FIA, in particular on the budget cap,” Abiteboul told Motorsport.com. “That’s a very complex set of new regulations, and something that did not exist.

“So every day, every week, we are making progress to address some of the concerns.

Read also:

"As far as Renault is concerned because we think that something needs to be seriously done to contain the costs to be competitive in F1, we are massively in support of the budget cap.

“Is it the perfect answer? Maybe not. Is it the best answer? Probably.

"That’s why we’re working very actively to make it as robust as possible, and according to what will be our assessment at the end, we will see if we can be in favour, and we think it is a proper deterrent, or not. Lots of progress is being done on that aspect.”

Abiteboul says that it’s important that decisions are made soon, so that teams and manufacturers can start planning around the changes – and indeed decide whether or not they wish to sign a new Concorde Agreement and continue in the sport.

“I think we all accept that everyone needs to have some form of clarity before the summer. In order to do that we need to seriously get things ticked off, in particular on the financial side, on the governance.

“For me the three things that can’t wait are the financial distribution, the governance, and the budget cap – anything that’s related to the business, and the sustainability of the business model is important, because that’s what will define whether or not F1 is still a compelling and attractive platform for 2021.

“Then I would almost say that the set of regulations is secondary. Once the budget cap is introduced then we move the exposure to the cost of the regulations, and then they can define almost any regulation they want.

"That’s our opinion. That’s why this side in particularly is very important to be sorted.”

Abiteboul acknowledges that it’s not easy for F1 and the FIA to come up with solutions that will satisfy all the teams.

“I think it’s complex. They trying to reconcile teams that have different business models, very distinctive set-ups.

"Right now it looks like they are not prepared to upset anyone. The risk and danger is that by doing that they end up upsetting everyone.

“That’s why I think it’s taking a lot of time to find something that would be able to satisfy everyone.

"I can see where they’re coming from, I can understand their point. But I think the main thing to do is to make sure that F1 is and remains attractive.

“Right now it looks like they are afraid of losing one team, two teams, three teams. I think what’s really important is instead of having to live in fear we make F1 a platform that is again attractive enough to attract enough teams, so that you are not held to ransom by anyone.”

For PRIME users:

shares
comments
Overtaking Ferrari shows Honda power now "enormous" - Wolff
Previous article

Overtaking Ferrari shows Honda power now "enormous" - Wolff

Next article

How Formula 1 arrived at its vital crunch meeting

How Formula 1 arrived at its vital crunch meeting
Load comments
How the Jeddah F1 race became a one-sitting Netflix drama series Prime

How the Jeddah F1 race became a one-sitting Netflix drama series

The inaugural Saudi Arabian Grand Prix was a race packed full of incident as Formula 1 2021's title contenders repeatedly clashed on track. Lewis Hamilton won out over Max Verstappen to level the scores heading into next weekend's Abu Dhabi finale, as Jeddah turned F1 into a drama series

The impressive attitude that earned Albon his second F1 chance Prime

The impressive attitude that earned Albon his second F1 chance

Dropped by Red Bull last season, Alexander Albon has fought back into a Formula 1 seat with Williams. ALEX KALINAUCKAS explains what Albon has done to earn the place soon to be vacated by the highly rated George Russell

Formula 1
Dec 5, 2021
The factors that could negate Red Bull's practice gap to Mercedes Prime

The factors that could negate Red Bull's practice gap to Mercedes

Mercedes led the way in practice for Formula 1’s first race in Jeddah, where Red Bull was off the pace on both single-lap and long runs. But, if Max Verstappen can reverse the results on Saturday, factors familiar in motorsport’s main electric single-seater category could be decisive in another close battle with Lewis Hamilton...

Formula 1
Dec 4, 2021
Why Norris doesn’t expect Mr Nice Guy praise for much longer Prime

Why Norris doesn’t expect Mr Nice Guy praise for much longer

Earning praise from rivals has been a welcome sign that Lando Norris is becoming established among Formula 1's elite. But the McLaren driver is confident that his team's upward curve can put him in the mix to contend for titles in the future, when he's hoping the compliments will be replaced by being deemed an equal adversary

Formula 1
Dec 2, 2021
What Ferrari still needs to improve to return to F1 title contention Prime

What Ferrari still needs to improve to return to F1 title contention

After a disastrous 2020 in which it slumped to sixth in the F1 constructors' standings, Ferrari has rebounded strongly and is on course to finish third - despite regulations that forced it to carryover much of its forgettable SF1000 machine. Yet while it can be pleased with its improvement, there are still steps it must make if 2022 is to yield a return to winning ways

Formula 1
Dec 2, 2021
How F1 teams and personnel react in pressurised situations Prime

How F1 teams and personnel react in pressurised situations

OPINION: The pressure is firmly on Red Bull and Mercedes as Formula 1 2021 embarks on its final double-header. How the respective teams deal with that will be a crucial factor in deciding the outcome of the drivers' and constructors' championships, as Motorsport.com's technical consultant and ex-McLaren F1 engineer Tim Wright explains.

Formula 1
Dec 1, 2021
How getting sacked from Benetton made Mercedes' Allison Prime

How getting sacked from Benetton made Mercedes' Allison

He’s had a hand in world championship-winning Formula 1 cars for Benetton, Renault and Mercedes, and was also a cog in the Schumacher-Ferrari axis. Having recently ‘moved upstairs’ as Mercedes chief technical officer, James Allison tells Stuart Codling about his career path and why being axed by Benetton was one of the best things that ever happened to him.

Formula 1
Nov 28, 2021
The remarkable qualities that propelled Kubica’s F1 comeback Prime

The remarkable qualities that propelled Kubica’s F1 comeback

It’s easy to look at Robert Kubica’s second Formula 1 career and feel a sense of sadness that he didn’t reach the heights for which he seemed destined. But as Ben Anderson discovered, performance and results are almost meaningless in this context – something more fundamental and incredible happened…

Formula 1
Nov 27, 2021