F1 introduced its first set of financial regulations for the 2021 season, restricting teams to a yearly budget of $145 million. This was initially set to fall by $5m per year, but extra allowances were made to consider the economic climate and soaring inflation rates for 2023.
While F1’s biggest operations - Red Bull, Mercedes and Ferrari - have continued to dominate since the budget cap came into force, it is expected to level the playing field over time and make the series more sustainable.
