June 19, 2020 | News | No Comments
Haas team boss Guenther Steiner says the US outfit will rein in its spending and delay upgrades to its 2020 car until it has clarity on its budget.
Formula 1 is doing its best to salvage this year’s campaign amid the global COVID-19 pandemic, but so far only eight races in Europe have been confirmed, with hopes the provisional calendar will be expanded to at least 15 rounds.
However, the loss of revenue for the teams for this year is still expected to be significant, weakening the finances of several midfield outfits, including Haas.
Amid the current economic downturn and uncertainty, Steiner says his team cannot commit to a develop program for its 2020 car.
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“In the moment we are not planning any upgrades until we know exactly what we are doing this year budget wise, and what we are doing race wise,” the Haas boss told reporters on Thursday.
“I cannot spend money which I don’t know if I’ve got. There is no point to do that in the moment.
“We have to be very cautious with what we are doing, because obviously you know the income is going down in having less races and having races without spectators.
“Until it’s very clear, I’m very cautious and just make sure that we participate, that we do our job as best we can, that we are making no mistakes in the races or in the sessions and just focus on that.”
Holding off on upgrades might impact Haas’ performance level relative to its rivals, but Steiner would rather live with that risk than further jeopardise the team’s existence.
“This is an exceptional year, hopefully, for all of us, so this is what we live with,” he said.
“The worst would be to spend the money now and then not have the money to do the upgrades. That is no help.
“What is really needed for us is not to make mistakes,” he added. “That will be decisive.
“That is why we went down that road in not risking that we are planning for something which we then cannot afford.”
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