- The F1 Commission met Friday to discuss potential amendments to the Capital Expenditure permitted in the financial regulations.
- Some teams want to see an increase because of the varying levels of infrastructure currently in place at different factories.
- Roger Goodell, the CEO of the NFL, explained to Williams’ team principal, James Vowles, how the value of every team went up when they all realized “it doesn’t matter who wins, it matters that you work together on that journey.”
Among the F1 Commission’s discussions on Friday were on potential amendments to the Capital Expenditure permitted in the financial regulations. The cost cap, introduced in 2021, usually refers to the Operational Expenditure which has a base limit of $135 million for 2023.
Teams also have a CapEx allowance, but some squads want an increase. This is because of the varying levels of infrastructure currently in place at different factories, which means some advantages will be even more baked in compared to the era prior to the cost cap—with Williams the chief lobbyist for change.
Owners Dorilton Capital, who acquired Williams almost three years ago, wants to renovate its campus, which is lagging decades behind the front-runners. But at last Friday’s meeting, there was no agreement reached between the teams, F1, and the FIA, and that left Williams Team Principal James Vowles frustrated.
“We cannot compete at the front with the facilities we have at the factory, that remains the case today, that hasn’t changed,” said Vowles, who made the conclusion upon joining from Mercedes in February.
“And in five months or so it’s unfortunate and disappointing frankly that we’re in a situation where again that meeting went round in circles if nothing else. And to an extent it will do because everyone in that room wants to make sure they’re not losing out relative to everyone else, and there’s no way of doing it, there’s no way of just letting Williams gain facilities.
“You know other teams will be hurt by the fact we could put millions in. Some [teams] are in different positions, some don’t have the money to spend, some don’t want to spend the money, some are fearful of change.”
Some Advice from the NFL
Vowles believes the mindset of Formula 1 teams remains out-of-date with the direction the championship needs to take.
“We had a great meeting with Roger Goodell, the CEO of the NFL, in Canada, who explained the value of the teams went up exponentially, certainly by multiples, at the point where all teams realized it doesn’t matter who wins, it matters that you work together on that journey,” said Vowles.
“And we’re not there today, we’re still on a journey where everyone is concerned, and rightly so, about the bottom line of where they finish in the championship today. It’s hard to know what’s going to change over the next two months, which is the next point [when] we’ll get together and talk about all of this, because everyone’s fears of where they lie in the championship and how it affects them short-term and how powerful Williams could become as a result of it, will still be there.
Red Bull’s Max Verstappen.
“What I’m hoping, out of all of it, is it’s undoubtedly agreed in that room that Williams, amongst all the peers, is the one with the least amount of facilities and that needs rectifying. We’ll have another go at fixing that and seeing if we can get other people’s mindsets to modify.”
Given the dominance of Max Verstappen and Red Bull in 2023, Vowles has a point over long-term equalization.
“I appreciate I have more to gain than others,” said Vowles. “You need it to be on any given Sunday [that] you don’t know who’s going to win, and that dominance doesn’t exist the way it does at the moment.”
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