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
Luca Marini guides Honda to its MotoGP concessions...
No description available...
41m ago from Motorsport.com
Aleix Espargaro tells Franco Morbidelli to...
No description available...
2h ago from Motorsport.com
Jorge Martin’s Valencia MotoGP retirement was...
No description available...
31m ago from Motorsport.com
Marco Bezzecchi explains Aprilia 'proposal' after...
No description available...
2h ago from Motorsport.com
Popular On IndyCarToday.com
Ryan Hunter-Reay joins Arrow McLaren for 2026...
No description available...
3d ago from Motorsport.com
Ryan Hunter-Reay joins Arrow McLaren for 2026 Indy 500
Arrow McLaren has announced that veteran Ryan Hunter-Reay will join the...
3d ago from MotorsportWeek.c...
RLL locks in Louis Foster with extended IndyCar...
Rahal Letterman Lanigan Racing has announced an extension to its contract...
4d ago from MotorsportWeek.c...
AJ Foyt Racing expands veteran support program to full...
AJ Foyt Racing has announced that its successful Homes For Our Troops...
5d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Hyundai already working on “Plan B” for 2026 WRC...
No description available...
1w ago from Motorsport.com
What Toyota expects from 2026 WRC signing Oliver...
No description available...
6d ago from Motorsport.com
Oliver Solberg lands factory Toyota Rally1 drive
We called it after Oliver Solberg clinched his WRC2 title in Chile....
6d ago from MotorsportWeek.c...
Popular On GunnersToday.com
‘News from the last 24 hours’: Fabrizio Romano...
Arsenal fans can breathe a collective sigh of relief as transfer expert...
51m ago from CaughtOffside.com
Gabriel a doubt for north London derby after Brazil...
t;li>Defender forced off in second half of Senegal friendlyBrazil...
3h ago from TheGuardian.com
“He’s just got this knack of scoring unbelievable...
Former Premier League star Danny Murphy has said that he would pick...
3h ago from SportsKeeda.com
FFS … Gabriel injury blow + a real Cristhian
Morning. Bad news to start with today, and that's Gabriel picking up an...
9h ago from Arseblog.com
Comments
Hottest News
Christian Horner destined to become Lewis Hamilton's new...
Ever since the day Christian Horner was kicked... Read More »
51m ago from GPFans.com
Red Bull 'trust' issue raised after crushing Max Verstappen...
Red Bull faces a serious problem, given the... Read More »
41m ago from RacingNews365.com
'Lewis Hamilton isn't good enough': Schumacher's brutal...
Former F1 driver turned pundit Ralf Schumacher... Read More »
1h ago from GPFans.com
