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Cost cap is actually just novelty hat, FIA admits

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Cost cap is actually just novelty hat, FIA admits | Top Gear

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FIA forced to concede F1 spending limit is merely amusing branded headgear

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Cost cap is actually just novelty hat, FIA admits

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FIA forced to concede F1 spending limit is merely amusing branded headgear

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Cost cap is actually just novelty hat, FIA admits

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FIA forced to concede F1 spending limit is merely amusing branded headgear

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Cost cap is actually just novelty hat, FIA admits

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Cost cap is actually just novelty hat, FIA admits

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FIA forced to concede F1 spending limit is merely amusing branded headgear

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Here's TopGear.com's roving correspondent, Cory Spondent, with his mostly incorrect exclusives from the world of motoring

The F1 ‘cost cap’ - previously thought to be a set of rules forcing teams to stick to strict spending limits - is actually just a novelty hat, the FIA has admitted.

Rumours that two teams had breached financial regulations began swirling at the Singapore Grand Prix last weekend, leading to speculation that foul play could’ve changed the outcome of the championship in 2021.

The FIA had been due to name names earlier this week, but having missed that deadline the organisation has now admitted that its bid to introduce monetary fairness was all a ruse.

“We realised quite early on that forcing big teams to not spend untold millions on pointlessly complex carbon fibre was impossible,” said an insider. “They just spent untold millions on accountants instead and that was that.

“However, we found a symbolic cost cap was much more achievable. We got ours from a vendor here in Suzuka, it’s stored in one of our hundreds of shipping containers now.”

Rather than docking points for overspending, drivers and team bosses will instead have to wear the cost cap at all times between races, including in their personal lives.

“This is actually a much more effective disincentive,” agreed one team principal, who asked to remain anonymous. “If I went home looking like that, Geri would kill me.”

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Here's TopGear.com's roving correspondent, Cory Spondent, with his mostly incorrect exclusives from the world of motoring

The F1 ‘cost cap’ - previously thought to be a set of rules forcing teams to stick to strict spending limits - is actually just a novelty hat, the FIA has admitted.

Rumours that two teams had breached financial regulations began swirling at the Singapore Grand Prix last weekend, leading to speculation that foul play could’ve changed the outcome of the championship in 2021.

The FIA had been due to name names earlier this week, but having missed that deadline the organisation has now admitted that its bid to introduce monetary fairness was all a ruse.

“We realised quite early on that forcing big teams to not spend untold millions on pointlessly complex carbon fibre was impossible,” said an insider. “They just spent untold millions on accountants instead and that was that.

“However, we found a symbolic cost cap was much more achievable. We got ours from a vendor here in Suzuka, it’s stored in one of our hundreds of shipping containers now.”

Rather than docking points for overspending, drivers and team bosses will instead have to wear the cost cap at all times between races, including in their personal lives.

“This is actually a much more effective disincentive,” agreed one team principal, who asked to remain anonymous. “If I went home looking like that, Geri would kill me.”

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FIA forced to concede F1 spending limit is merely amusing branded headgear