Haas’ Team Principal Guenther Steiner believes the impending cost cap will convince owner Gene Haas to commit to Formula 1 beyond the end of 2020.
Haas joined the championship in 2016 and the American owner has regularly voiced his frustration at the disparity between teams, suggesting he would use the early stages of the 2020 season to assess its future.
Formula 1 has since agreed a reduction in the budget cap from $175m to $145m for 2021, which will lower by a further $5m in 2022 and 2023.
Formula 1 is in the final stages of forming its new Concorde Agreement for 2021 and beyond, and Steiner is confident Haas will sign up to the new regulations.
“I think it’s a good thing, the budget cap, for the sport in general, even if it is not completely equal with everybody we know that we will still be under the budget cap but it is a very good step,” said Steiner.
“Now the difference will not be 150 million to the big teams but maybe 20 million which is a very good step.
“There is a chance to [break even] and that is for sure the aim of us, that needs to be my aim, to make it break even for Mr. Haas and if I make that one happen he will sign the Concorde Agreement!
“But first of all we haven’t yet seen the Concorde Agreement, we know what it looks like, but that should come in the next weeks or months, we don’t know exactly when, but FOM had to wait to get all the budget caps through and that’s why it took a step back, but it will be coming.
“Then once we get it Mr. Haas can decide what he wants to do but at the moment his intention is to stay in the sport.
“I’m very positive about where we are now, we are getting through this difficult period with the coronavirus, we are doing the right thing, we live within our means, and therefore I think Haas is here to stay.”