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Formula 1 set for five-year sliding-scale budget cap
F1 teams are reportedly considering a five-year budget cap plan that to be implemented from next year, with a vote on the proposal scheduled in the coming days. Teams unanimously agreed to cut the sport's initial budget cap limit for 2021 from $175m to $150m as a result of the financial impact of the coronavirus crisis on F1. But during subsequent meetings to discuss F1's economic downturn, an additional reduction $145m was decided. However, the sport's mid-field outfits have since been pushing for a more significant cutback, with McLaren even suggesting a contraction all the way to $100m! Silverstone and F1 locked in British GP financial standoff However, Ferrari vehemently opposed an...
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