Horner warns of F1 “catastrophe” over budget cap crisis

Amid a dramatic rise in inflation and a cost of living crisis, a number of squads are struggling to stay below the $140 million budget cap limit sent for this year.

Some outfits, like Ferrari and McLaren, have already admitted in public that they are on course to break the cap this season because costs have jumped so much – so are in desperate need of a compromise deal being put in place to help ease their situation.

While F1 chiefs and the FIA are working on finding a…