Ron Dennis Is Wrong to Say F1 Does Not Need a Budget Cap

McLaren CEO Ron Dennis has spoken out against a budget cap in Formula One. "The actual cost constraint has to be exercised by the senior management of a Formula One team, cost constraints can't be controlled by an outside entity," Dennis said, per ESPN F1. There is nothing surprising about his position, given he runs one of the wealthiest teams in the sport, but Dennis is wrong. Spending in F1 is out of control. Marussia and Caterham have already gone bankrupt, while Sauber, Force India and Lotus are teetering so near the brink they threatened to boycott the United States Grand Prix last November. The only way to get spending back under control is for an outside entity—namely, the sport's governing body, the FIA—to impose a...

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