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F1 teams spend millions of dollars on running their programs each season. Red Bull Racing has been known to produce some of the most aerodynamically-efficient cars. In 2019, the Milton Keynes outfit reportedly spent over $300 million to finish third in the championship. In an effort to reduce these figures for all teams significantly, cost caps have been put in place by the governing body for the current season and beyond.
The precise figure reported by Reuters for Red Bull Racing's expenditure was $304.84 million for 2019, compared to the $321.4 million spent in 2018, when the team also claimed third in the constructors’ championship with Renault engines.
However, in 2021, with the cost caps effective for 2021 and beyond, teams are now required to fit their expenses within $150 million.
The budget for 2022 to is set to be reduced to $145 million and a further reduction to $135 million will be put into effect for 2023-2025. The cost caps effective 2021 exclude staff salaries, research and development costs, marketing and PR expenditures.
Red Bull Racing's form unaffected by cost caps
Red Bull’s 2019 challenger powered by a works Honda engine secured them three race victories and 10 podiums in total.
With Max Verstappen and Pierre Gasly in their driver line-up, the Milton Keynes team secured third place in the championship with a total of 417 points. Verstappen claimed all three victories, with the final one in Brazil being a clean sweep for the team as Gasly scored his maiden F1 podium.
With cost caps in effect and reduced budgets, Red Bull have remained unaffected in producing a title challenger to fight Mercedes F1. So far they trail a point behind the Silver Arrows squad in the constructors’ standings, while Verstappen leads Lewis Hamilton by 19 points in the drivers’ championship.
