MX23RW : Tuesday, March 19 02:43:02| >> :120:68600:68600:

Daimler to slash Mercedes' F1 budget

Daimler to slash Mercedes' F1 budget
© Reuters
Daimler, the dominant Mercedes team's carmaker parent, intends to slash the amount of money it spends on Formula 1.

Daimler, the dominant Mercedes team's carmaker parent, intends to slash the amount of money it spends on Formula 1.

It emerged recently that Mercedes spent a stagging $430 million to win last year's championships - with a $145 budget cap coming in for 2021.

Daimler CEO Ola Kallenius has rejected rumours that Mercedes could be pulled out of the sport.

"We have no more reason to retire from Formula 1 than Bayern Munich has to retire from football," he is quoted by TV6.

"But the financial burden in the next three years will be halved. In this regard, we set ourselves more aggressive goals for Formula 1 than for other areas of the company," Kallenius added.

ID:418414: cacheID:418414:1false2false3false:QQ:: from db desktop :LenBod:restore:936:
Restore Data
Share this article now:
Lewis Hamilton celebrates winning the Eifel Grand Prix on October 11, 2020
Read Next:
Stewart denies 'knocking down' Hamilton
>
Read more about Mercedes Formula 1
rhs 2.0

Subscribe to our newsletter


Sports Mole provides in-depth previews and predictions for every match from the biggest leagues and competitions in world football.
Argentina's Lionel Messi kisses the World Cup trophy after collecting the Golden Ball award on December 18, 2022Sign up for our FREE daily preview newsletter direct to your inbox!