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Competitive balance is an essential aspect of sports that ensures every team or player has a fair chance of winning, which creates a level playing field. It refers to the degree of parity between teams or players in a particular sport, and it is a critical factor that contributes to the overall excitement and engagement of fans. A lack of competitive balance can lead to decrease fan engagement and interest, which can ultimately impact the financial viability of the sport. The results of this study have provided valuable insights into the concept of competitive balance in Formula One. Maintaining competitive balance is crucial for the long-term sustainability and growth of the sport, as it keeps fans engaged and invested in the competition. My findings suggest that the budget cap did not affect competitive balance. This was contrary to my expectations and should be viewed as preliminary. Even though it is a preliminary result, the study remains informative for future research.
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Jung, Dylan, "What It Takes To Be The Best: The Competitive Balance In Formula 1 Racing" (2023). Senior Projects Spring 2023. 248.
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