Todt doesn’t ‘fear’ Ferrari vetoing cap

Michelle Foster
Jean Todt

Jean Todt

Jean Todt doesn’t have “any fears” that Ferrari will use its veto to prevent Formula 1 lowering the budget cap.

Although all the teams had agreed to a $175 million cap for the 2021 season, recent events have forced them to re-evaluate the situation.

With the 2020 season yet to get underway and the teams losing millions for every race missed, the majority want the cap cut to $145 million or even lower.

The bosses are considering a proposal that would see a cap of $145m in play next season before falling to $140m in 2022 and $135m for 2023.

Ferrari, though, has been one of the more vocal in its opposition.

According to Scuderia team boss Mattia Binotto, Ferrari has “more obligation” to protect its employees and fears a dramatically reduced cap will put jobs at risk.

This has raised questions about whether Ferrari could use its veto to quash the cap.

FIA president Todt is confident that won’t happen.

“Don’t be provocative or negative,” he told Sky Sports when the question was put to him. “I don’t have any fears on that.

“I hope that everybody will have the good sense of responsibility in the present situation to help us to achieve what is needed for the best of Formula 1, the competitors, the promoters and the governing body, the fan.

“That’s what we try to achieve. I do respect Ferrari for their history and their contribution and I am sure they are willing to keep at a high level their contribution to what we are building.”

Acknowledging that Formula 1 is going through an “nprecedented economic situation”, Todt says everyone has to pull together to ensure Formula 1’s survival.

“What we are going to present for the future is going in the right direction,” Todt added.

“Clearly, we are going through an unprecedented economic situation and that it is why there is an opportunity to take a direction we would not have taken.

“I really hope that everybody will be able to stay on board and in that sense the purpose of the new global regulations is to give as much chance for all the competitors to remain in the sport in the future.

“It will be the post-Covid-19 situation, where it will have hurt and damaged a lot of manufacturers, competitors, private teams sporting federations, sponsors and media so we will need to see how we can all work together to be as supportive as possible towards each other.

“That will be the next step.”

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