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
Fermin Aldeguer to miss MotoGP season opener in...
Gresini Ducati has confirmed Fermin Aldeguer will miss the opening round...
10h ago from MotorsportWeek.c...
Fermin Aldeguer to miss Thai GP, Gresini names...
No description available...
10h ago from Motorsport.com
Marco Bezzecchi satisfied with ‘smaller’...
Marco Bezzecchi admits the Aprilia bike has slightly improved “in all...
12h ago from MotorsportWeek.c...
Davide Brivio: Trackhouse looking to remain Aprilia's...
Team boss Davide Brivio has revealed that Trackhouse Racing is looking to...
1d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Honda confirms early discussions for 2028 factory...
Honda, one of two engine manufacturers that supply IndyCar, has confirmed...
3h ago from MotorsportWeek.c...
IndyCar announces multi-year extension with engine...
The NTT IndyCar Series has announced a long-term continuation with both...
7h ago from MotorsportWeek.c...
IndyCar announces historic multi-year deal with...
No description available...
8h ago from Motorsport.com
Popular On TotalWRC.com
WRC Sweden: Oliver Solberg sets the pace to grab early...
No description available...
3h ago from Motorsport.com
Martins Sesks sets out target ahead of WRC return
No description available...
6h ago from Motorsport.com
Low snowfall throws up extra curveball for WRC crews...
No description available...
6h ago from Motorsport.com
Dacia announces exit from Rally-Raid, rules out 2027...
No description available...
9h ago from Motorsport.com
Popular On GunnersToday.com
Report: Arsenal looking to bring 22-year-old back to...
Arsenal and Chelsea are reportedly interested in signing the Nottingham...
2h ago from CaughtOffside.com
Arsenal drop more title-race points with draw at...
Arsenal missed the chance to re-establish their six-point lead at the top...
1h ago from SkySports.com
Arsenal, Man United and Chelsea join intense pursuit...
Manchester United, Arsenal and Chelsea are interested in signing...
3h ago from CaughtOffside.com
Arsenal and Real Madrid enter transfer tug-of-war for...
Arsenal and Real Madrid are interested in signing the Borussia Dortmund...
2h ago from CaughtOffside.com
Comments
Hottest News
F1: Verstappen slams 2026 cars
Never mind F1, Max Verstappen compares 2026 F1... Read More »
57m ago from Pitpass.com
Mercedes F1 co-owner apologises for ‘offensive’ comment...
One-third owner of the Mercedes F1 team Jim... Read More »
1h ago from GPFans.com
Lewis Hamilton finally breaks his silence on Kim Kardashian...
Seven-time champion Lewis Hamilton has finally... Read More »
4h ago from GPFans.com
