Guenther Steiner: Talent will shine when all F1 teams hit the budget limit

As part of Formula 1's efforts to generate a more competitive grid, a spending cap was brought into play as of the 2021 season, that concept now set to head into its third year.

Set at $135m for the 2023 campaign, Steiner says this is a figure which he expects Haas to reach, allowing them to build on a 2022 campaign which saw them go from a torrid and point-less 2021 to midfield battlers once more, scoring 37 points.

"We were very close to the budget limit this year," said Steiner, as per Motorsport.com.

"I think we didn't perform like other teams. It wasn't because of the money this year, but more because of when we started.

"In 2020, we shut everything down. In 2021 we started to build the car for 2022. But when we started, it was January and you can't have a team of people working perfectly and in harmony from day one.

"So it took a bit of time, but at the beginning of the year we were still pretty strong. Then something was missing a little bit, it was up and down, but Formula 1 is just a difficult place. I think we found out why it went the way it did.

"Next year we will reach the budget limit and I am pretty confident that we can take the next step, technically and as a team."

Haas carry the "big bonus" of a new title sponsorship deal with MoneyGram into the 2023 campaign, helping the team towards that budget cap ceiling.

And as he expects Haas to be joined by the other nine teams at this limit, Steiner says now we will see who has the talent to create the best racing team and challenger.

"Now we can do what other teams can do," said Steiner. "I think not only us, but everyone else will hit the budget limit next year.

"Then it's not about the money, it's about the talent, and hopefully we have enough talent to move forward."