Some newly-released financial numbers have revealed the impact the F1 cost cap had on Mercedes, which labelled it a 'super painful and difficult' process. Full story:
Newly released financial numbers from the Mercedes Formula 1 team reflect the impact of the first year of what Toto Wolff called a"painful" cost cap in 2021.The overall spending of Mercedes-Benz Grand Prix Limited fell from £324.9m in 2020 to £297.4m last year, despite the calendar being extended from 17 to 22 races as the impact of COVID faded.
In another indication of how the cost cap has had an impact, the overall headcount at Mercedes-Benz Grand Prix tumbled in 2021. It rose from 1016 staff in 2019 to 1063 in 2020, the last year without a cap – when most F1 teams invested heavily before the restrictions came in.However, more significant than the overall fall was the drop in the number of people employed in design and engineering – those who fall directly under the cap.
Wolff said that meeting the cap in 2021 had been"painful", but that ultimately it helped to increase the profitability of the organisation. "So the support areas still needed to grow vastly in order to support the organisation with the cost cap. But the bottom line, if you've been successful on track with the TV money, sponsorship is basically going directly into your margins. And that has happened in the US.
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