Budget cap & equitable distribution of F1's revenues

[Penfold]

Topics about which I may have ranted in the past ten or so years.  Perhaps there is at last some hope of progress, or perhaps it will all be shot down by the F1 Strategy Group... chunk of text courtesy of Mr. Joe Saward.

"... the major push at the moment is towards putting in place a budget cap, which is expected to go before the F1 Strategy Group in the first week of November.  This will propose a top limit of $150 million, reducing over time to $100 million.  This will affect a number of the big teams, but will also make F1 much more attractive to other manufacturers.  It will also mean that it will be a lot easier for teams to become profit centres and, as a result, their value will grow exponentially.  We also expect Liberty to propose that all the teams get the same share of the revenues, allowing a small amount more for those who are more successful than others.  What is likely to follow all of this, is the argument that teams no longer need as much of the revenues as previously and that the payments should be reduced, not to become the profit margin on the NASDAQ, but rather to be invested so that the sport can go where it wants to go, and not where it has to go.  Thus, for example, if F1 wants to go a specific city and needs money to make that happen, this money could come from a new central fund created for that purpose.  The goal, of course, would be to increase the revenues by building up the races.

"There is a note in the green book about New York, one of the primary targets for a race.  This notes that things may start happening more quickly once the mayoral elections are done on November 7.  Bill de Blasio, the current mayor, is expected to win a significant victory."

Taken from: https://joesaward.wordpress.com/2017/10/24/notebook-from-a-weird-town/