Ferrari boss Louis Camilleri says the Italian manufacturer’s F1 team will see its budget increased significantly for 2020 thanks in large part to the company’s solid financial results.
Strong sales this year of Ferrari’s Portofino and 812 Superfast road car models have set the luxury car maker on track for a strong business year, with the Scuderia directly profiting from the boost in revenue and profits.
Before the sport ushers in its $175 million budget cap in 2021, F1 top teams are expected to spend lavishly next year as they simultaneously oversee the development of their 2020 car and the design of their all-new 2021 car.
Midfield teams will need to manage their resources adequately as everyone prepares for F1’s future regulation overhaul and cost-cutting measures. But Ferrari won’t be weighed down by restrictions in its final year of effusive spending and investments which will include, among other things, a brand new simulator at Maranello.
“We are one company and the car business funds Mattia’s business,” Camilleri said last week in Maranello.
“We’re also prepared to invest. And luckily the car business can support those investments, not only in terms of people, but also in terms of infrastructure.”
Scuderia boss Mattia Binotto confirmed that increased monies will be flowing his way in 2020.
“Yes, it will be significantly more expensive,” he said when asked about the Italian outfit’s budget. “The budget we’ve got available is the one that’s needed.
“Certainly, the number of projects in parallel are significantly more compared to the past. We all started very early [on the 2021 car].
“So yes, there will be significant extra budget next year, not only about money but resources – extra people would be required to run the programmes.
“I think it’s got to be a situation to be managed right now.”
Looking ahead, Camilleri underscored the necessity of instilling a bit of calmness at Ferrari after the end of season disruptive speculation about the team’s engine gains.
“We need patience, we need stability and serenity,” said the Ferrari chief executive.
“If you look back in the history of Formula 1, where teams have done very well, be it McLaren, Ferrari in the good old days, Red Bull or today Mercedes, there is one common thread, which was that there was a lot of stability within the team.
“They learned to work very closely together. That is something we are very focused on.
“Mattia has been spending a lot of time to ensure that we have a cohesive, united team.”