Formula 1’s budget cap for 2021 may be $175 million but that doesn’t mean Haas will meet it, says team boss Guenther Steiner.

One of the smaller teams on the F1 grid, the American outfit reportedly spent $150 million last season.

That is a long way off of the $484 million Mercedes laid down to win a sixth championship double.

However, it is also some way off the $175m budget cap that Formula 1 will introduce come 2021.

Steiner, though, is adamant that Haas, who will be without a title sponsor in 2020 after its relationship with Rich Energy imploded last season, won’t up the spending to match the cap.