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Carey optimistic over budget cap introduction
Formula 1 CEO Chase Carey is optimistic that there is broad agreement within the sport in favour of the phasing in of a budget cap for teams. The topic was one of a number of items on the agenda of the Strategy Group meeting held earlier this week. "I think we have broad-based support for the direction of all the initiatives we're talking about," Carey said in Brazil. "It will create a business model that would first and foremost be beneficial to the existing teams in it," he continued. "I think as a healthier business model it would also entice new teams." Carey said that it was important for the sport to bring in cost controls. He said it would ensure that...
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