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F1 teams reportedly agree on changes to cost cap measures

  • Published on 23 May 2020 09:18
  • comments 0
  • By: Coilin Higgins

It has been reported that teams have agreed on changes to the F1 cost-cutting cap, which is implemented to enter the sport next season.

According to BBC Sport, the teams have agreed on a cap of $145 million for 2021, which was lowered from the original agreement of $175 million.

The budget cap will then be reduced by $5 million to $140 million for 2022, with a further reduction of $5 million to $135 million for the seasons between 2023 and 2025.

It is understood that these agreements have been made in order to help teams as much as possible during the ongoing coronavirus pandemic.

BBC Sport also reports that a number of senior figures in F1 have also agreed to the budget cap changes, but that they wish to remain anonymous at this time.

Teams are also looking at a number of other methods for the coming years in order to level out the competition in F1 for the coming years, including a possible handicap on the current teams' development.

Ferrari recently voiced concerns over lowering the budget below $150 million as it would impact negatively on staff and factory operations, with Mattia Binotto believing a programme in Indycar alongside F1 in the future could be possible.

Along with the proposed agreements in capping the budget for teams in 2021, teams also recently agreed to delay the rule regulation changes, which were set to enter the sport in 2021, until 2022 in response to the coronavirus outbreak.

The current regulations will be used for 2021 with teams using their current chassis for next season. However, an exception will be made for the McLaren team, who will need to change its chassis design in order to accommodate the Mercedes power units that the team will use next year.

It is understood that the budget cap changes are yet to be agreed by the FIA, F1 and the World Motorsport Council, with the vote expected to take place next week.

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Formula 1 Calendar - 2021

Date
Grand Prix
Circuit
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Bahrain
26 - Mar 28
Bahrain
16 - Apr 18
Italy
7 - May 9
Spain
20 - May 23
Monaco
4 - Jun 6
Azerbaijan
18 - Jun 20
France
25 - Jun 27
Austria
2 - Jul 4
Austria
16 - Jul 18
United Kingdom
30 - Aug 1
Hungary
27 - Aug 29
Belgium
3 - Sep 5
Netherlands
10 - Sep 12
Italy
24 - Sep 26
Russian
8 - Oct 10
Japan
8 - Oct 10
Turkey
22 - Oct 24
United States of America
5 - Nov 7
Mexico
12 - Nov 14
Brazil
19 - Nov 21
Qatar
3 - Dec 5
Saudi Arabia
10 - Dec 12
United Arab Emirates
See full schedule

Formula 1 Calendar - 2021

Date
Grand Prix & Circuit
26 - Mar 28
16 - Apr 18
7 - May 9
20 - May 23
Monaco Monte Carlo
4 - Jun 6
Azerbaijan Baku City Circuit
18 - Jun 20
France Paul Ricard
25 - Jun 27
Austria Red Bull Ring
2 - Jul 4
Austria Red Bull Ring
16 - Jul 18
United Kingdom Silverstone
30 - Aug 1
Hungary Hungaroring
27 - Aug 29
3 - Sep 5
Netherlands Circuit Zandvoort
10 - Sep 12
Italy Monza
24 - Sep 26
Russian Sochi Autodrom
8 - Oct 10
8 - Oct 10
Turkey Istanbul Park
22 - Oct 24
United States of America Circuit of the Americas
5 - Nov 7
12 - Nov 14
Brazil Interlagos
19 - Nov 21
3 - Dec 5
Saudi Arabia Jeddah Street Circuit
10 - Dec 12
United Arab Emirates Yas Marina Circuit
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