Haas hits cost cap: Gene Haas no longer needs to bankroll team

In a significant development for Haas, team principal Ayao Komatsu has confirmed that the outfit’s eponymous owner Gene Haas will not need to inject personal funds into the team for the first time in its history. The landmark moment comes on the heels of a strong 2024 season, where Haas finished seventh in the constructors’ championship, and marks a major step towards long-term financial sustainability. The team, which joined the Formula 1 grid in 2016, has consistently operated as one of the smaller teams, often relying on Gene Haas’s personal support. However, with the introduction of the budget cap and increased commercial success, the team has reached a turning point, as Komatsu explained. “This year is the first time that as a company, Gene doesn’t have to put his own money in,” Komatsu told the media on Monday. “We haven’t been hitting the budget cap, we are hitting it this year. So we have a different challenge of making sure we stay within the budget cap.” Financial Transformation The milestone reflects the team’s steady commercial growth over the years. Prize money from last year’s championship performance, coupled with increased sponsorship revenue, has enabled Haas to compete at the budget cap – a critical benchmark for any F1 team aspiring to be competitive in the current era. “It’s great that we finally got here, but in terms of mindset, it’s the same thing—like trackside engineering, we really had to change the mindset of everyone, what is acceptable and what we have to strive for,” Komatsu explained. Read also: Haas overhauls race team crews for 2025 with ‘huge changes “It’s the same with this budget thing. Before, if we were under the budget cap, if we had money, we could spend it without worrying about it. “Now we have to make sure we stay within the budget cap. So it’s a whole different mindset. But if you want to be competitive, that’s minimum where you should be.” Komatsu emphasized that this change has allowed the team to “tick many boxes,” a phrase that underscores their progress. “Finally, it feels like we’re ticking many boxes – start doing TPC (Testing of Previous Cars), be on the budget cap and being profitable. “With the prize money from last year, sponsorship money etc., this year, Gene shouldn’t have to put his money in. It’s the first time.” Leaner Operations, Strategic Spending Haas remains the smallest team on the grid, with roughly 330 personnel compared to larger rivals boasting workforces of 800 or more. This size difference has led to a unique operating model, where Haas outsources certain functions—including the manufacturing of some components—to partners like Ferrari. “This approach helps the team remain competitive despite its limited in-house resources. Some of it is obvious, right? Maranello and also the external manufacturing, etc. “But we made some improvements last year. We are making more improvements this year, so we’ve got to be more efficient. “All those notional values (are set). But at the moment, let’s say for the foreseeable future – when I say foreseeable future, like next few years at least – even with the notional value deficiency, with the capabilities and resource we have got, that’s the best way to go.” Haas continues to see value in its current model of purchasing certain components rather than manufacturing them in-house. “It’s much better to pay for that extra money deducted from the budget cap limit and buy components from Ferrari. That side of the model, I don’t think it’s an issue at all,” Komatsu remarked. “Whereas there’s some other part of the business that’s inefficient, both in terms of time and then cost. So we’re looking at that.” For Gene Haas, a decade-long journey in Formula 1 has finally reached a point where his investment is yielding tangible returns. For the team, this financial breakthrough represents not just an operational milestone but also a symbol of its growing maturity and potential as a consistent midfield contender. As Komatsu noted, staying competitive in modern Formula 1 begins with the fundamentals—and for Haas, those fundamentals are firmly in place. Keep up to date with all the F1 news via X and Facebook The post Haas hits cost cap: Gene Haas no longer needs to bankroll team appeared first on F1i.com.