The explosion in popularity experienced by Formula 1 over the past five years has been described by some as a unique phenomenon in the history of sport.
Labels aside, one of the factors that has turned F1 into such an attractive proposition for manufacturers is its profitability. And that cannot be explained without the introduction of the budget cap, which in 2021 put the brakes on the escalation in team spending, limiting it to $145million before increasing it to $215million coming into the 2026 regulations.
Immediately before the cap was introduced, the better-funded teams – Mercedes, Ferrari and Red Bull – w
