Budget ceiling raised from 150,000 Euros to 300,000 Euros per sprint race in 2023

The World Motor Sport Council met today at the request of the FIA in Bologna, Italy. The FIA announced minor modifications to the financial regulations for 2023, which will raise the budget cap for that year by compensating each sprint race with €300,000 instead of the current €150,000 as stated in the financial regulations.

This $1.8 million envelope is therefore being added to the authorized 2023 budget.

144.2 million dollars budget authorized in F1 in 2023.

The budget for 2023 is capped at around $140 million for 2023. To this budget, initially planned at $135 million, an additional $1.2 million must be added for each race beyond the first 21 on the schedule. With 23 races in 2023, the authorized budget will therefore be $142.4 million. However, that’s not all. For each sprint race, the FIA has planned an increase in the authorized budget to compensate for the fact that a 100 km race will be held on Saturday. So now, an additional $300,000 must be added per sprint race, which amounts to an extra allocation of $1.8 million in 2023. This brings the total to $144.2 million for the 2023 F1 season.

The damages of sprint courses hidden in the budget.

The F1 teams have agreed to an increase in the number of sprint races in 2023, between 3 and 6, in exchange for ensuring that the consequences of these sprint races, which carry more risk than free practice sessions, will not affect the 2023 budget.

Thus, the teams and the FIA reached an agreement that allows for an increase – for each accident involving the abandonment of an F1 car or a pit stop – during a sprint race, in the budget limit of $100,000, negotiable with the authorities if necessary.

This amounts to a white operation for the teams, who may not have to undergo the financial constraints associated with sprint races.