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
No new Yamaha MotoGP engine until after French GP,...
No description available...
1d ago from Motorsport.com
Aprilia on dominant MotoGP start: 'Ducati isn’t...
No description available...
1d ago from Motorsport.com
Davide Tardozzi: Ducati 'slapped in the face' by...
No description available...
2d ago from Motorsport.com
MotoGP: Qatar GP ‘unlikely', but a ‘plan...
MotoGP Sports Entertainment Group has admitted that the Qatar Grand Prix...
2d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
David Malukas earns Phoenix IndyCar pole as Will Power...
No description available...
15h ago from Motorsport.com
IndyCar's David Malukas eager to convert Phoenix pole...
No description available...
13h ago from Motorsport.com
IndyCar veterans praise Mick Schumacher for...
No description available...
14h ago from Motorsport.com
IndyCar Phoenix – Qualifying Results
IndyCar’s busy Friday continued with a single-car, two-lap qualifying...
15h ago from MotorsportWeek.c...
Popular On TotalWRC.com
Why Hyundai WRC team is "working at 120 per...
No description available...
1d ago from Motorsport.com
Lando Norris samples Toyota rally car alongside Oliver...
No description available...
4d ago from Motorsport.com
Lancia rally legend Sandro Munari passes away aged 85
No description available...
6d ago from Motorsport.com
Popular On GunnersToday.com
14 G/A star puts Arsenal on alert as he's open to...
Arsenal are reportedly interested in a potential transfer swoop for Paris...
1h ago from CaughtOffside.com
'We could lose him' – Ray Parlour predicts...
Former Arsenal midfielder Ray Parlour has made it clear that Gabriel Jesus...
1h ago from CaughtOffside.com
'Delighted to see it', 'Locked in' - Arsenal fans...
It’s all smiles and delight for a section of Arsenal fans after Max...
22m ago from SportsKeeda.com
'My agent's calling me…' – Former Arsenal...
Former Arsenal star Alex Iwobi has revealed the chaotic way his exit from...
2h ago from CaughtOffside.com
Comments
Hottest News
FIA announce late Mercedes penalty verdict after front row...
The FIA have confirmed a late penalty verdict for... Read More »
2h ago from GPFans.com
Lewis Hamilton warns F1 2026 could be ‘done' amid...
Lewis Hamilton has warned the 2026 F1 season... Read More »
1h ago from MotorsportWeek.com
Lando Norris says George Russell only one saying Australian...
Lando Norris did not have the best of starts to... Read More »
2h ago from GrandPrix247.com
