COVID impact "opened the eyes" of Formula 1 teams - Tost

Scuderia AlphaTauri boss Franz Tost says the impact of the COVID-19 pandemic "opened the eyes" of Formula 1 teams over the unsustainable financial nature of the series.

COVID impact "opened the eyes" of Formula 1 teams - Tost
Listen to this article

Following initial plans to introduce a $175 million cost cap for the 2021 season, F1 teams agreed to reduce the figure to $145 million from this year after the pandemic caused last year's calendar to be heavily altered.

The move came as teams braced for a significant fall in prize money payouts from F1 as a result of the reduced revenue from track hosting fees.

The decision was also taken to postpone the new technical regulations by one year, and carry over the majority of the 2020 cars into 2021.

AlphaTauri team principal Tost explained how a growing realisation from teams over the challenges F1 faced prompted the level of collaboration that allowed the changes to be pushed through.

"Regarding the cost cap, the top teams would not have been so open to reduce the amount of money which they want to spend, to $145 million for the first year, without these COVID-19 problems," Tost told Motorsport.com.

"Everybody realised how difficult it could become in the future. Formula 1 teams hardly work together, because everyone has their own interest, and unfortunately does not look at the big picture.

"But I believe that this special situation with COVID-19 opened the eyes, that there is simply less money on the table as expected.

"If you have less money, you can only spend the money which you have. Therefore, I think that some of my colleagues changed a little bit their mind."

Read Also:

F1 planned to return to a more schedule in 2021, announcing plans for a 23-race calendar in November that started with the Australian Grand Prix.

But changes have already been forced due to the ongoing pandemic and travel restrictions in place, with Australia being postponed and China currently being removed from the calendar.

F1 remains hopeful of completing a 23-race calendar in 2021, with Tost stressing the importance of a return to normality in the near future.

"I really hope that we get back to this normal mode," Tost said, speaking prior to the changes to the 2021 calendar.

"As you can imagine, FOM hasn't got the money as we forecasted last year, because if there are no spectators, the organisers don't pay so much money to FOM, and FOM can't provide us with the money we have in our business plan.

"Therefore I really hope that we can get everything under control, that spectators can come to the races, that the interest is there for Formula 1, that we have a stronger season in 2021, that the revenues will reach the level which we know it should have, and which we expected for our business plan."

shares
comments

Related video

Nissany retains role as Williams F1 test driver
Previous article

Nissany retains role as Williams F1 test driver

Next article

The mistakes Mercedes cannot afford to make in F1 2021

The mistakes Mercedes cannot afford to make in F1 2021
Load comments
Why Mercedes' Spanish GP gains aren't as grand as they seemed Prime

Why Mercedes' Spanish GP gains aren't as grand as they seemed

Mercedes' strong showing in last weekend's Spanish Grand Prix prompted team boss Toto Wolff to say it had halved its deficit to the leaders and its Formula 1 title chances were back on after a rocky start to the 2022 campaign. But a closer inspection of the team's performance suggests its gains aren't as grand as they first appeared

Formula 1
May 24, 2022
What's next for the Green Red Bull controversy? Prime

What's next for the Green Red Bull controversy?

From the 'pink Mercedes' to the 'Green Red Bull', the Silverstone-based team has received suspicious glares from up and down the Formula 1 paddock over its car design exploits. But after being cleared by the FIA over its Spanish Grand Prix updates amid a backdrop of cries of foul play, what's next in this saga?

Formula 1
May 24, 2022
Spanish Grand Prix Driver Ratings 2022 Prime

Spanish Grand Prix Driver Ratings 2022

In an unusually hectic Formula 1 Spanish Grand Prix, Charles Leclerc was denied a dominant performance by his Ferrari engine letting go which allowed Max Verstappen to pick up the pieces. But numerous flashpoints kept the race twisting and turning throughout, with one perfect score from an emerging contender

Formula 1
May 23, 2022
How Verstappen overcame his and Red Bull’s errors to win in Spain Prime

How Verstappen overcame his and Red Bull’s errors to win in Spain

Charles Leclerc’s Ferrari engine disaster offered an open goal for Max Verstappen and Red Bull to strike, but the reigning Formula 1 world champion still had to solve multiple errors and profit from a begrudged assist from team-mate Sergio Perez, which created an unexpectedly eventful Spanish Grand Prix

Formula 1
May 23, 2022
Why Red Bull can win a Spanish GP that looked perfect for Ferrari Prime

Why Red Bull can win a Spanish GP that looked perfect for Ferrari

Formula 1's return to Spain on Friday ended with Ferrari leading the way from Mercedes, while Red Bull could only manage third fastest overall courtesy of Max Verstappen. But its chances of victory are far from remote with a deeper dig into the times despite Ferrari's strong start...

Formula 1
May 20, 2022
The key aspects of Porsche and Audi's planned F1 entries Prime

The key aspects of Porsche and Audi's planned F1 entries

The VW Group’s German superpowers of sportscar racing have all but confirmed they are coming to F1 when the next set of engine rules come into force in 2026. Here's why both manufacturers are all set to take the plunge, and crucially how it might work

Formula 1
May 19, 2022
How Vegas went from byword for F1 indifference to grand Liberty coup Prime

How Vegas went from byword for F1 indifference to grand Liberty coup

Holding a race in Las Vegas – party central, a city of dreams and decadence and, yes, more than a smattering of tackiness – has been on Liberty Media’s most-wanted list since it acquired Formula 1’s commercial rights. But, as LUKE SMITH explains, F1 has been here before and the relationship didn’t work out

Formula 1
May 18, 2022
Why de Vries' FP1 outing could add a new path to his current crossroads Prime

Why de Vries' FP1 outing could add a new path to his current crossroads

A Formula 2 and Formula E champion, Nyck de Vries is currently considering where his future in motorsport lies. Continuing in WEC and Formula E is possible and he's also courted glances Stateside after impressing in an IndyCar test. But ahead of his Formula 1 FP1 debut with Williams, he could have another option if he impresses...

Formula 1
May 18, 2022