Tight cost control should restrict team season budgets to less than $5million in Formula E, according to series promoter FEH. The contrast between other racing series that the competition hopes to lure teams from is marked. Even the smallest F1 team is thought to spend some $65million per season; the top teams, somewhere north of three times that. NASCAR big spenders stump up around $25million to go racing, while IndyCar looks downright frugal at around $15million.
“This is the advantage of starting a championship from scratch,” says Alejandro Agag, head honcho at FEH. “We are targeting budgets which are much lower than other competitions. There will be big investment in batteries and powertrains, but constructors who develop those will have to offer them to other teams at a capped price. Costs shouldn’t exceed a figure of $5million as the absolute maximum for running a team for one year.”