News Details
Formula 1 teams agree cost-cutting package
Formula 1 teams have agreed to a package of cost-cutting changes to help the sport ride out the coronavirus pandemic, BBC Sport can reveal. Teams voted to accept a plan to lower the budget cap to be introduced next year by $30m to $145m (£118.6m). This will be reduced again to $140m in 2022 and $135m for the period 2023-25. This is one of a series of measures aimed at reducing costs and levelling the field, including a research-and-development handicap system. The package still needs to be officially approved by F1's legislative body, the world motorsport council of governing body the FIA. Its vote will take place next week and is expected to be a formality. More to follow Could...
Full Story »
Full Story »
You May Also Be Interested In...
Formula 1 to vote on cap, other rule changes on Friday
Formula 1 is set to vote on a raft of regulation changes on Friday, most...
5y ago from GrandPrix247.com
The braking point: Formula 1 at a crossroads
The impact of the coronavirus has been so dramatic and immediate that I...
5y ago from GrandPrix247.com
Abiteboul doubts further reduction of budget cap 'Is a...
Despite the fact that we are still in the middle of the corona crisis, it...
5y ago from GPBlog.com
Tribute to Anthoine Hubert in new edition Formula 1...
Anthoine Hubert will also be present in the new edition of the official...
5y ago from GPBlog.com
Elsewhere On The Network
Popular On MGPToday.com
Francesco Bagnaia "struggled to accept" new...
No description available...
22h ago from Motorsport.com
Jorge Lorenzo: “Maverick Vinales has more talent and...
No description available...
1d ago from Motorsport.com
MotoGP shelves ‘leg wing’ ban but will revisit...
No description available...
1d ago from Motorsport.com
Honda to debut 2027 MotoGP bike in Sepang this week
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Simpson hoping Sunoco partnership grows into...
No description available...
1d ago from Motorsport.com
Sunoco makes full-time IndyCar return as primary...
No description available...
4d ago from Motorsport.com
Chip Ganassi Racing lands new sponsor for Kyffin...
Chip Ganassi Racing has announced a new sponsor for the team’s #8 entry...
4d ago from MotorsportWeek.c...
IndyCar announces independent officiating system
The NTT IndyCar Series announced on Thursday that it will implement a new...
5d ago from MotorsportWeek.c...
Popular On TotalWRC.com
FIA announces new constructor set to join WRC 2027
No description available...
1h ago from Motorsport.com
Jon Armstrong joins Josh McErlean in all-Irish M-Sport...
Christmas came early for Jon Armstrong and co-driver Shane Byrne when the...
4h ago from MotorsportWeek.c...
Jon Armstrong joins Josh McErlean in new M-Sport Ford...
No description available...
18h ago from Motorsport.com
Sebastien Loeb admits you “need some luck to win”...
No description available...
1d ago from Motorsport.com
Popular On GunnersToday.com
Twists and turns and midweek musings
Morning all. The players were back to training yesterday after a couple of...
2h ago from Arseblog.com
Sources: Chelsea & Arsenal establish contact with...
Kenan Yildiz has rapidly emerged as one of the most talked-about young...
4h ago from CaughtOffside.com
Report: Arsenal are very interested in signing...
Arsenal have been linked with the move for the AC Milan goalkeeper Lorenzo...
14h ago from CaughtOffside.com
Arsenal latest: White 'out for a month' as defensive...
No description available...
1d ago from SkySports.com
Comments
Hottest News
Ex-Ferrari F1 boss brands Lewis Hamilton documents...
Ex-Ferrari F1 boss Maurizio Arrivabene has... Read More »
1h ago from MotorsportWeek.com
Christian Horner in talks with F1 team over sensational...
Christian Horner has been looking for a route... Read More »
3h ago from RacingNews365.com
Charles Leclerc delivers firm Lewis Hamilton verdict after...
Lewis Hamilton endured a highly challenging... Read More »
2h ago from RacingNews365.com
