Formula 1 | How McLaren F1 ‘freed up cash’ despite budget cap

How McLaren F1 'freed from (...)

McLaren F1 is starting to see better how it should exploit its budget cap. Thus, the team was able to launch a recruitment campaign to strengthen its engineering departments, and it has been looking for new faces for two months.

Thanks to prudence over the first years of tighter budget management, the team was able to release resources. Andreas Seidl, its director, explains that this increased efficiency has made it possible to have more resources, and therefore to work more on performance.

« It’s probably the same challenge for all the teams that have had to downsize with the introduction of the budget cap » Seidl said. « Ultimately, you had to define the size and shape of the squad to the best of your knowledge. »

« You have to do it by also making sure that, especially in those early years of the cap, which are tough, you stay within the cap. And that’s what we’ve done, by staying within the cap in 2021, which was painful because it also meant we had to fire people. »

« Then I guess it’s also normal, once that starting point is in place, to see how you can continually make sure, as a team, that you’re making changes by finding other efficiencies or synergies in the within the team in order to free up money to create more performance. »

« Learning » to manage the capped budget

Like all other teams, McLaren F1 tries to do its best to allocate its budget in the most efficient way, so that each part of the team has the necessary means at its disposal.

« It’s part of learning, you wonder where you went wrong. And it’s never just one area » said Zak Brown, CEO of McLaren.

“Did we allocate our resources, people, time and attention in the right area? Was it just a mistake that we made collectively? Or was the error related to the allocation of resources ? »

« It’s all the things you go through in your post-mortem, ‘what led to the outcome we got?’ And I think we’re all learning. Even with the Red Bull breach, I don’t believe it was intentional. »

« Speaking of our CFO, she and her team did a hell of a job, because her goal was to get us as close to the cost cap as possible, but not go over it by a dollar. But every dollar below is a dollar. that we could have spent on the race team. It’s a difficult mission. »

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