The most FSAE teams are allowed to spend is $250,000...
and some Universities do. I heard Cambridge gets engines so teched out from Honda, that they arn't even on street bikes yet. They make like 150 horsepower from a 610cc engine, with to cap it all off, a 20mm restrictor plate. Sheer insanity, thats F1 style specific output. What University do you guys go to?