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Hass F1 to control spending until further clarification

Hass F1 is not planning any further upgrades to their 2020 Formula One car until there is further clarification over the financial consequences of the coronavirus pandemic and the team know how much they can spend said Guenther Steiner the team principal.

Speaking to reporters today, Steiner said that uncertainty over how many races there will actually be this year is the main financial factor affecting the teams budget since this helps determine how much revenue will be received from racing revenue and sponsor payments.

In 2020, there were scheduled 22 races, making it the most in history however due to coronavirus races have been cancelled so now the sport is looking at racing between fifteen and eighteen races instead. However, currently, there are only eight races confirmed in the new provisional calendar and they are all in Europe.

“We are not planning any upgrades until we know exactly what we are doing this year budget-wise and race-wise,” said Steiner.

“I cannot spend money which I don’t know if I’ve got. In the moment we have to be very cautious with what we are doing, because obviously you all know the income is going down, with having fewer races and races without spectators.

“Until it’s very clear, I’m very cautious and just make sure that we participate, that we do our job as best we can, that we are making no mistakes in the races or in the sessions and just focus on that.”

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© 2020 by James Thomas Consulting.