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
Toprak Razgatlioglu: I may fail to get my first MotoGP...
No description available...
4h ago from Motorsport.com
Rival MotoGP teams offering "a lot of money"...
No description available...
9h ago from Motorsport.com
Marc Marquez admits ‘my body will force me to retire...
No description available...
1d ago from Motorsport.com
Ducati anticipates ‘2024 version’ of Francesco...
Ducati Team Manager Davide Tardozzi is “very confident” Francesco...
1d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Long Beach to bring in new leadership for iconic event
Organizers of the annual Grand Prix of Long Beach event have announced...
3d ago from MotorsportWeek.c...
Pato O’Ward joined by F2 champion in McLaren F1...
McLaren has announced its driver development program lineup for 2026,...
3d ago from MotorsportWeek.c...
Grand Prix of Long Beach set for leadership change
No description available...
3d ago from Motorsport.com
Kucharczyk set for 2026 Indy NXT run with HMD
No description available...
4d ago from Motorsport.com
Popular On TotalWRC.com
Sebastien Loeb after 13 Dakar punctures: Cars now...
No description available...
10h ago from Motorsport.com
Nani Roma: Dakar 2026 at 'F1 level' after close fight
No description available...
1d ago from Motorsport.com
Dakar 2026: Dacia edges Ford and Toyota as Nasser...
No description available...
1d ago from Motorsport.com
Luciano Benavides defeats Ricky Brabec by two seconds...
No description available...
1d ago from Motorsport.com
Popular On GunnersToday.com
Mikel Arteta provides worrying update on key Arsenal...
Arsenal manager Mikel Arteta has revealed that Bukayo Saka is dealing with...
4h ago from SportsKeeda.com
Arsenal latest: 'Ajax close to signing Zinchenko on...
No description available...
4h ago from SkySports.com
'I saw it live, I saw it here. I saw it now again' -...
Arsenal manager Mikel Arteta believes his side were denied a clear penalty...
9h ago from SportsKeeda.com
Nottingham Forest 0-0 Arsenal: Gunners misfire to...
Match report – Player ratings – Arteta reaction – Quotes...
13h ago from Arseblog.com
Comments
Hottest News
Ferrari tipped for 'disaster' as Lewis Hamilton and Charles...
Ferrari have been tipped to be the team heading... Read More »
2h ago from GPFans.com
F1 fans go wild for Oscar Piastri's 'absolutely diabolical'...
McLaren star Oscar Piastri has sent fans wild... Read More »
38m ago from GPFans.com
F1 legend claims team with ZERO titles has real chance to...
Former F1 champion Damon Hill has warned fans... Read More »
3h ago from GPFans.com
