McLaren's CEO explains how inflation has affected Formula One

McLaren's CEO Zak Brown has a theory about why none of the racers in Singapore are from the US.

There are resources and talents. Brown said that it was about when and where they got into Formula One.

The majority of this year's F1 drivers are from European countries such as Italy, Spain, France, and the United Kingdom.

We don't have enough American drivers so we start in Europe and work our way up through the European Junior formulas.

The F1 has a number of driver development programs in Europe.

“Because of the testing restrictions, it’s now difficult to take a driver out of America who maybe hasn’t been around these tracks,” McLaren’s CEO Zak Brown said.

The United Kingdom has a few programs like the Mercedes Junior Team, Mclaren Driver Development programme and Williams Driver academy.

There are barriers for American drivers.

It is now difficult to take a driver out of America because of the testing restrictions. You want a driver that knows the tracks because we only have three days of testing.

The CEO believes that F1 needs more American drivers in junior formulas.

One day, we will have an American world champion rider.

Brown compared the situation of female racers in F1 to that of American drivers.

The best kart racers rise to the top when there are enough young girls racing karts.

I think we will see a female racing driver and I hope she drives a McLaren.

Daniel Ricciardo will be replaced by 21-year-old Oscar Piastri.

When asked if McLaren is looking at a long-term shift towards young drivers, Brown said, "no, you always want a blend of experience."

McLaren recently announced it will be replacing eight-time Grand Prix winner Daniel Ricciardo with 21-year-old Oscar Piastri (above).

Brown said he couldn't be happier because all of his competitors have young and older drivers.

We are lucky that Lando is young and has youth.

The 19-year-old became a member of the McLaren F1 racing team. He was a test driver for McLaren.

The cost cap of F1 was lowered at the beginning of the year due to soaring inflation. Each team is limited by the cost cap how much they can spend. Next year, the amount is expected to go down by $5 million.

The tighter budget has made it harder to allocate resources, but it has balanced the F1's playing field because contractors can't just spend more.

Formula One has always been a sport where you can get out of a problem. We all have a limit on how much we can spend.