Site logo

WMSC confirms the financial allowances for Sprint Qualifying

NEWS STORY
02/05/2021

The FIA's World Motor Sport Council has confirmed the financial allowances in terms of damage incurred in Sprint Qualifying events.

Other than concerns that Sprint Qualifying would compromise the purity of F1's DNA, the other roadblock to the proposal in the eyes of many teams was money.

Sprint Qualifying not only means more 'race's' - in inverted commas because all concerned are keen to make clear that Sunday's Grand Prix is the only race of the weekend - and therefore more opportunity for accident damage, it also means more wear and tear on components.

At the best of times the teams wouldn't have been happy, but with the newly imposed budget cap of $145m, the additional costs incurred as a result of Sprint Qualifying was a clear obstacle.

Having given the green light to Sprint Qualifying, which will make its debut at the British Grand Prix in July, the FIA has now published details of the financial allowances that have been agreed.

For each Competition in the Full Year Reporting Period ending on 31 December 2021 that included a Sprint Qualifying session:

(i) the F1 Team must make a downward adjustment in the calculation of Relevant Costs for the Reporting Period ending on 31 December 2021 equal to US Dollars 150,000; and

(ii) If an F1 Team's F1 Car suffers accident damage that, to the satisfaction of the Cost Cap Administration, occurred during a Sprint Qualifying session and resulted directly in either:

(A) retirement of that F1 Car from that Sprint Qualifying session; or

(B) entry into the pit lane of that F1 Car during that Sprint Qualifying session,

the F1 Team must make a downward adjustment in the calculation of Relevant Costs for the Reporting Period ending on 31 December 2021 equal to US Dollars 100,000. For the avoidance of doubt, in the case that both of an F1 Team's F1 Cars fall within this Article 4.1(l)(ii) the F1 Team must make a downward adjustment in the calculation of Relevant Costs for the Reporting Period ending on 31 December 2021 equal to US Dollars 200,000; and

(iii) If an F1 Team's F1 Car suffers accident damage that, to the satisfaction of the Cost Cap Administration, occurred during a Sprint Qualifying session, resulted directly in the retirement of that F1 Car from that Sprint Qualifying session and the value of such accident damage, assessed in accordance with the requirements communicated by the Cost Cap Administration via a Determination is greater than US Dollars 100,000, the F1 Team may make a downward adjustment in the calculation of Relevant Costs for the Reporting Period ending on 31 December 2021 equal to the difference between the value of the accident damage and US Dollars 100,000.

In calculating Relevant Costs, the order in which costs must be excluded pursuant to Article 3.1, and adjustments must be made pursuant to Article 4.1, shall be determined by the Cost Cap Administration and set out in the Reporting Documentation.

In other words, each team is allowed an additional payment of $150,000, per Sprint Qualifying session, which, presuming there will be three such events, means an allowance of $450,000.

A further $100,000 is available for each car in terms of damage but with the proviso that... well, see (iii) above.

In the case of serious damage, the cost of which is greater than $100,000, a further adjustment can be made, with the proviso that it satisfies the cost cap administration

While the teams are actually unlikely to incur more mileage as a result of the Sprint Qualifying, other than the cost cap allowances, they will be given an additional $100,000 for each Sprint Qualifying, though this is not part of the financial regulations, rather part of the commercial agreement F1 has with the teams.

Check out our Sunday gallery from Portimao, here.

LATEST NEWS

more news >

RELATED ARTICLES

LATEST IMAGES

galleries >

  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images
  • Pitpass.com latest F1/Formula 1 images

POST A COMMENT

or Register for a Pitpass ID to have your say

Please note that all posts are reactively moderated and must adhere to the site's posting rules and etiquette.

Post your comment

READERS COMMENTS

 

1. Posted by Nogbad, 02/05/2021 12:02

"Does anyone know what the rules are on rebuilding a retired car? I assume any that weren’t classified have to start at the back of the grid, but I assume they are not subject to Parc Ferme restrictions?"

Rating: Neutral (0)     Rate comment: Positive | NegativeReport this comment

Share this page

X

Copyright © Pitpass 2002 - 2021. All rights reserved.

about us  |  advertise  |  contact  |  privacy & security  |  rss  |  terms