Kevin Magnussen says he wants to remain at Haas beyond this year, but would leave if they ask him to pay for his seat under the new budget cap read more »

Red Bull team principal Christian Horner hopes the introduction of a budget cap into Formula 1 helps to 'safeguard' struggling teams. read more »

Formula 1 managing director motorsports Ross Brawn has said the introduction of a budget cap to the sport may have saved the Williams team. read more »

Christian Horner believes Red Bull's F1 competitiveness will not suffer as a result of the budget cap being introduced to the sport next year. read more »

Toto Wolff says Mercedes may consider joining other categories as the 2021 budget cap will leave them with surplus personnel. read more »

Mercedes boss Toto Wolff believes motorsport has to become "much more affordable" at every level, in the wake of Formula 1 introducing a budget cap. Formula 1 chiefs... read more »

Although Christian Horner says F1 will be "stronger" for the budget cap, he fears the sport could descend into an "accounting world championship". read more »

Racing Point Technical Director Andrew Green has likened the ‘big three’ Formula 1 teams to dinosaurs, saying they will need to adapt to a new world if they’re to survive.... read more »

Haas principal Guenther Steiner says the team's owner Gene Haas will decide whether or not to stay in F1 based on the new commercial agreement, not a budget cap. read more »

Haas team principal Guenther Steiner is glad that a revised budget cap has been agreed, but thought it could have been lower still. read more »

Arguing for weeks over $5 million, Bernie Ecclestone feels F1's budget cap battle has been "complete rubbish". read more »

Renault has doubled down on their commitment to Formula 1, citing the new regulations and budget cap as major factors in the decision. read more »

McLaren believes the 'massive and painful task' of cutting spending and reducing its staff numbers to get under Formula 1's budget cap level is the price to be... read more »

McLaren has backed the changes made to Formula 1's Financial Regulations but says the restructure will lead to the "painful task" of reducing headcount. Formula... read more »

Formula One's post-coronavirus future took shape on Thursday after racing's governing body, the FIA, ratified several unprecedented measures in the technical and... read more »

Formula 1's budget cap has been reduced for the 2021 season following a unanimous agreement between all 10 teams, the FIA's World Motor Sport Council confirmed on... read more »

F1's big and wide-ranging package of cost-cutting measures - headlined by a tighter budget cap - have been approved from 2021 onwards as the sport bids to become more... read more »

McLaren is set to slash 1,200 jobs across their technology, automotive and racing businesses in light of the coronavirus crisis and in response tot he introduction of a budget... read more »

Formula 1 not only avoided losing a few of its smaller teams by cutting the budget cap but will also be "more interesting" to manufacturers. read more »

Haas team principal Gunther Steiner believes the reduced Formula 1 budget cap from 2021 will make involvement in the series a "clear cut" decision for interested... read more »

Haas boss Guenther Steiner has expressed optimism that Formula 1's impending budget cap will make the sport a more attractive proposition for manufacturers. Formula 1 has... read more »

Formula 1 teams have agreed to reduce the upcoming budget cap to $145 million (119 million pounds) for 2021, according to the BBC. read more »

All ten teams have agreed to a $145m budget cap, which, subject to ratification by the WMSC, will be introduced next year. read more »

Renault Formula 1 chief Cyril Abiteboul says Formula 1 is debating whether to add drivers' salaries to future budget caps. read more »

"He who is smartest, wins, whereas now it is he who spends the most wins," says Zak Brown as he calls for engine costs and driver salaries to be included in the... read more »