Arrivabene: F1 costs are increasing instead of decreasing

Between now and 2021, Liberty Media are expected to rip up the contentious and secretive Concorde Agreement and formulate a collective deal for teams heading into the future, a transparent plan in which a budget cap is high on the agenda, but as yet there is nothing concrete on the table to work with.

There are those in the paddock who warn of time running out and call for decisions to be made with regards to the way forward for Formula 1, but Arrivabene told Racer that patience would be a virtue in this case, "Time is quite tight, you know better than me."

"So we need to move quickly – but in the meantime we need to avoid any move that could damage our company. I’m talking about Ferrari as I think my colleagues, they are talking about the company that they are representing."

At the same time, he cautioned, "We don’t have any hurry to move forward and maybe to create a mess."

"Talking about something that is in front of us now: We have regulations for next year, they were supposed to give more possibility to the overtaking, at the moment the first feedback that I got from our drivers is that most probably that objective is not achieved."

“The result is that we are spending a huge amount of money next year to change our car, then we need also to sit together and to understand how could be the situation for the engine cost for 2021 and maybe thinking about that – because we are continuously talking about a cost cap but at the moment, I’m seeing costs that are increasing instead of decreasing."

“So, we need to stop a bit and, instead of rushing, we need to think about what we are doing now, because what we are doing now, it could potentially influence future decisions.”

The current Concorde Agreement, inked in 2013, runs until the end of the 2020 season and is expected to make way for a more transparent and balanced deal with the ten teams.

Currently, Mercedes and Ferrari have budgets of around $400-million to $600-million per season depending on who you believe. The smaller teams are operating on about a third of that.