News Otmar Szafnauer: Racing Point spent almost no money in the corona crisis

19:20  28 april  2020
19:20  28 april  2020 Source:   formel1.de

budget ceiling: Ferrari warns of "emotional" rapid shots

 budget ceiling: Ferrari warns of © LAT Mattia Binotto doubts about a lower budget ceiling It is no secret that there are several Formula 1 teams that still have the planned budget ceiling of 175 million US dollars doesn't go far enough. At McLaren, for example, one speaks in favor of seeing the current corona crisis as an opportunity and dramatically reducing the "budget cap" again and reducing it to $ 100 million. It is also known that Ferrari is clearly against such a radical step.

Otmar Szafnauer verrät, dass bei Racing Point aktuell überall gespart wird © LAT Otmar Szafnauer reveals that Racing Point is currently saving everywhere

Normally the Formula 1 teams are concerned with spending the last tenths of the time Find. But currently everything is different. In the corona crisis, the focus is not on tenths but on money. It's about saving as much as possible. Because the racing teams without races currently have little or no income, the costs have to be reduced as much as possible.

"We had to completely shut down the business", Racing Point team boss Otmar Szafnauer reminds 'Formula1.com' and explains: "We are currently in the shutdown, so it is not being developed. We have spent no money, almost nothing which is good. We’ve extended the shutdown, so there’s another two weeks now. And I’m expecting it to be extended again. ”

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Formula 1 is currently in the early summer break. It is not allowed to work on the cars - and recently also on the engines. This helps the teams, because without work, expenses can be reduced to a minimum. "Virtually everything has been shut down," explains Szafnauer. However, this is less good for the numerous employees.

Several teams, including Racing Point, sent most of their workforce on a short-time basis. "Morality didn't influence that at all," emphasizes Szafnauer, however, and explains: "I think people understand the short-time work. We explained it well." It was quite normal to have certain "worries" when the future was unclear.

At Racing Point this is currently not an issue. "We received great feedback and the morale is strong," assures Szafnauer, for whom it is about Formula 1 drawing the right conclusions from the current situation. The virus has a "massive impact" on the entire series. Corona shows how fragile the financial structure of the premier class is.

"We have to learn that these things can happen," says Szafnauer and explains: "We should take precautions, perhaps a more reasonable cost cap, so that we are better financially positioned if something like this happens again." Discussions are currently underway to significantly lower the budget limit of $ 175 million planned for 2021.

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