The cancellation of the Emilia-Romagna Grand Prix, which was due to take place this weekend, helps save Formula 1 teams.
In 2023, the budget is capped at $135 million before adjustments, and canceling a leg a few days in advance won’t reduce that amount. This is because Formula 1’s financial regulations stipulate that if the stage is canceled less than three months before its scheduled date, it will still be considered as run, taking into account budgetary constraints. The budget will be reduced if fewer than 21 Grands Prix are run in the season, but financial documents say 22 stages remain in the 2023 season.
At the same time, the cancellation of the race in Imola allows the teams to save on the operation and maintenance of race cars. In addition, the teams avoid possible damage from track accidents and can offset the cost of hospitality by reimbursing the cost of hotels in which they will not actually stay.
It is very likely that Formula 1 competitors will spend the money saved this weekend on further modernization of cars or equipment in an attempt to gain an edge over rivals.
Source: F1 News
I am Christopher Clyde, an experienced journalist and content writer with a passion for sports. I have been writing about Formula 1 news for the past five years and am currently employed as an author at athletistic.com, one of the top sports websites in the US.
