News Details
Teams agree new budget cap and cost-cutting deal
Formula 1 teams have agreed to reduce the upcoming budget cap to $145 million (119 million pounds) for 2021, according to the BBC. The cap will then be gradually reduced over the coming years. It will go down to $140m per season in 2022, and then $135m from 2023-25. In addition to this, there will also be a new research-and-development handicap system as F1 bosses look to level the playing field. The World Motorsport Council still need to approve the changes, and the vote is expected to take place next week. All the talks around the budget cap kicked off after the global health pandemic put a financial strain on F1 and its teams with still no racing possible. The original cap was $175m per...
Full Story »
Full Story »
5y ago from PlanetF1.com
0
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
Formula 1 teams approve cost-cap, other changes
Formula 1 is set to move forward with a $145 million budget cap...
5y ago from GrandPrix247.com
F1 teams set for $145M cost cap, radical aero handicap...
According to reports, Formula 1, the FIA and the teams have agreed to a...
5y ago from TheParcFerme.com
Teams officially agree to a reduced cost cap for 2021
A cost-cutting package for the 2021 season has been agreed upon by...
5y ago from GPFans.com
Elsewhere On The Network
Popular On MGPToday.com
Marco Bezzecchi eyes step at Dutch GP as Lorenzo...
No description available...
2h ago from Motorsport.com
Friday crash to affect Marc Marquez's approach to...
No description available...
3h ago from Motorsport.com
Marc Marquez secures Assen MotoGP Sprint victory
Marc Marquez secured an impressive MotoGP Sprint race victory in Assen...
6h ago from MotorsportWeek.c...
MotoGP Dutch GP: Marc Marquez beats brother to latest...
No description available...
5h ago from Motorsport.com
Popular On IndyCarToday.com
Where does Santino Ferrucci see his first IndyCar win...
No description available...
1d ago from Motorsport.com
IndyCar will not return to Thermal Club in 2026...
According to comments made by Thermal Club founder and owner Tim Rogers,...
2d ago from MotorsportWeek.c...
Malukas’ recovery drive secures Foyt’s best team...
During Sunday’s IndyCar race at Road America, David Malukas was the...
3d ago from MotorsportWeek.c...
Winners and Losers from IndyCar’s Road America...
No description available...
5d ago from Motorsport.com
Popular On TotalWRC.com
WRC Acropolis Rally: Ott Tanak pulls clear of...
No description available...
2h ago from Motorsport.com
Thierry Neuville slams Hankook tyres at WRC Acropolis...
No description available...
7h ago from Motorsport.com
WRC Acropolis Rally: Ott Tanak extends lead as Adrien...
No description available...
9h ago from Motorsport.com
Extreme heat at the Acropolis Rally just pushed WRC...
No description available...
20h ago from Motorsport.com
Popular On GunnersToday.com
Arsenal have 'made enquiries' for 25-G/A star but five...
Crystal Palace attacker Eberechi Eze has been linked with a move away from...
47m ago from CaughtOffside.com
“I hope it continues like this” - Valencia captain...
Valencia captain Jose Gaya has shared his thoughts on Arsenal's reported...
27m ago from SportsKeeda.com
Report: Arsenal preparing to offer 40 million for...
Arsenal are reportedly interested in signing the Barcelona midfielder Marc...
2h ago from CaughtOffside.com
Bukayo Saka tells Tottenham transfer target to join...
Arsenal attacker Bukayo Saka has reportedly told Eberechi Eze to join the...
3h ago from SportsKeeda.com
Comments
Hottest News
Lewis Hamilton now ‘as fast' as Charles Leclerc at...
Lewis Hamilton was pleased to find... Read More »
47m ago from MotorsportWeek.com
F1 Qualifying Results: Verstappen humiliated as Red Bull...
McLaren dominated the first part of qualifying... Read More »
5h ago from GPFans.com
FIA announce Russell punishment verdict after 'Mexican...
The FIA have announced a penalty verdict after... Read More »
2h ago from GPFans.com
