Christian Horner hopes to see Red Bull’s $7million fine “do some good” in motorsport, hinting at wanting to see the money go towards “struggling” series.
The all-female W Series was curtailed before its season ended due to financial shortcomings, which prevented the series from completing its calendar on the Formula 1 support schedule.
Horner said previously in the aftermath of that news that it would be a “massive shame” to lose W Series altogether, given the opportunities it has provided for females in motorsport and its role in the push for more diversity in the sport.
With the FIA being a non-profit organisation, the governing body has already confirmed that the fine, brought about by Red Bull’s breach of the 2021 cost cap regulations, would be put back into funding motorsport at the grassroots level.
Horner aired his thoughts surrounding Red Bull’s punishment for the breach in a lengthy press conference in Mexico City, but wants to see the team’s fine go to a worthwhile place.
“It’s an enormous amount of money and obviously it’s down to the FIA what it chooses to do with that money. We just hope it gets put to good use,” Horner hinted.
“Obviously, we see championships that are struggling at the moment and hopefully it can do some good.”
Despite Red Bull’s fine being a significant hit to their pockets, the sporting terms of the penalty and the 10% reduction in wind tunnel and aerodynamic testing capabilities for 2023 will arguably hit the team harder.
Not least, according to the Red Bull team boss, because the finances in Formula 1 as a whole are looking particularly robust at the moment.
“In terms of the material effect on Red Bull Racing, this year has been a strong year for us,” Horner explained.
“Indeed, the amount of money we will receive from Liberty this year will exceed the cap itself, so Formula 1 is in rude health, sponsorship income is strong, and the commercial revenue.
“It’s why the cost cap does need looking at because you have a prize fund exceeding the cap for the first three or four teams.
“Even the teams at the back of the grid are probably going to have 70 to 80 percent of their costs covered by the prize fund.”
The status of W Series in 2023 is still yet to be confirmed, but organisers remain confident they will be able to run another season as planned.