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This article first appeared in GP Racing magazine.
After decades of wondering what it would take to level the playing field in Formula 1, we now have the answer - a change of commercial leadership, two years of agonising negotiations and a vicious global pandemic.
Like some unexpected superhero, the solution has turned up in the nick of time, although instead of wearing its underpants on the outside it comes in the form of a USD$145m budget cap. It's a nail-biting moment for McLaren and Williams, the former group having lost £133m in the first quarter of this year, the latter £13m for the whole of 2019.
Job losses are in focus, McLaren pre-empting publication of its first quarter results with news that a restructuring of the group would lead to the loss of 1200 jobs across its three business units: Automotive, Racing and Applied (technologies).
