Zak Brown is expecting to see a "levelling of the playing field" in F1 in the years ahead, which he believes will further increase the excitement of the sport.
The McLaren CEO thinks that Formula 1 is in a healthy place at the current time, with record numbers of fans tuning in to watch as well as attending races in-person.
However, Brown anticipates that there is more to come in the future.
"I have never seen Formula 1 more popular than it is today," Brown said in a McLaren interview.
"I've never seen teams healthier than they are today. I've never seen the amount of corporate partners in the sport, and certainly the journey that McLaren has been on.
"TV ratings [are] up, [there are a] record number of races, record number of attendees, digital [is] through the roof – it's awesome."
Brown expects increased competition for title
With the cost cap in place, Brown feels that there will be an increased level of competition amongst the teams in time.
"I think what I'm most excited about is to think we're actually just getting started," he explained.
"I think now, with the cost cap, over time, we're going to see a levelling of the playing field, so [it's] going to go from one or two dominant teams to hopefully five or six that can win races, and three or four fighting for the championship.
"I think that will then make the sport even more exciting, which will draw in more fans."
Viewed by others:
Continued growth of F1 fanbase
The 2023 F1 calendar will feature a third race in the United States, with Las Vegas joining events in Miami and Austin.
Brown cites this as another factor in the sport's growth going forwards.
"The sport has taken off in North America," the McLaren boss added.
"We haven't even been to Las Vegas yet – that's going to be another shot in the arm. They've just announced a very substantial television agreement with ESPN, ABC. [It] will be the best broadcast coverage, and that's just in America.
"We've got new races in the Middle East. The sport is unbelievably healthy and now you have, with the cost cap, [a situation where] all these teams can afford to be in Formula 1.
"We were losing 100 million pounds when I started, which is a documented number, to where now we're cashflow positive and going to be turning a profit."
Revealed: 2023 F1 driver salaries
How much money will F1's class of 2023 take home with them? It's easy to assume that the likes of Lewis Hamilton, Max Verstappen and Charles Leclerc are the sport's biggest earners, find out which F1 stars take home the biggest pay cheques:
Check out the video below: