Indy car could very much soon have a new entrant in competition. World leading car company Ferrari last competed in the Indy 500 in 1953, when it was part of the formation of the Formula 1 world championship race.
Formula 1’s new rules in 2021 require each racing team to be restricted to a cost cap of $145 million dollars. Larger Formula 1 teams fear that the new budget cap will ultimately lead to massive staff cuts. Ferrari spends an estimated of 395 million dollars on their racing team and a reduced cost cap would mean a large portion of jobs will be lost at Ferrari.
New competition would be a chance to reduce this loss. Mattia Binotto, Ferrari Racing Team CEO confirmed that they are looking at other competitions due to the budget caps. Ferrari brought the popularity to Formula 1 being one of the most popular brands in the world imagine what it could do for Indy.
Safe to say, Ferrari has dug their self a hole in the IndyCar racing environment.
Photo: Pintrest / Frank Griegorian