F1 should respond to inflation crisis

(GMM) A global inflation crisis that has been worsened by the Russia-Ukraine conflict is expected to have an impact on Formula 1.

Red Bull boss Christian Horner thinks dramatically rising prices across the board will be “a real problem” for the sport under the rule of the $140 million budget cap.

“We can already see the consequences on air freight prices,” he said.

“I think it’s a very serious issue that needs to be looked at and addressed because it has an impact on people’s jobs and living conditions.

“I see it as the duty of the regulator to look into it urgently to ensure that a solution is put in place.”

It is believed Horner is pushing for a simple increase to that top $145m cap.

“I am open to discussion and to solutions, potential adjustments, as long as it remains within reasonable limits,” he said.

F1’s budget cap reduced from $145m last year to $140m in 2022, and is currently scheduled to drop by another $5 million to $135m for 2023.