Formula One’s bottom four teams have each been handed a $20 million capital expenditure boost to help put them on a more level playing field with better-equipped rivals.
The governing FIA revealed the increase from $45 million to $65 million for Williams, Haas, Alfa Romeo/Sauber and AlphaTauri in an updated version of the financial regulations for the 2024 season.
The top three teams — Red Bull, Mercedes and Ferrari — are allowed $51 million each towards capital expenditure, an extra $6 million.
Those in the middle bracket — McLaren, Alpine and Aston Martin — can spend $58 million each, a rise of $13 million on the previous allowance.
Williams in particular had complained that they were so far behind rivals on infrastructure and facilities that the gap could not be closed under a budget cap alone.
The allowances were determined by championship standings in 2020, 2021 and 2022.
Williams boss James Vowles said the increase was good news for his team.
“We have CapEx to spend now, not perhaps the $100m I was looking for, but a good step in the right direction,” he told reporters.
“We have an agreement on the table after six months that is sloped, so teams at the front will not get as much as teams at the back. We all benefit more, which is in line to a certain extent with the facilities.”
Source: www.espn.com