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
Honda pinpoints potential ‘advantage' ahead of...
Honda technical director Romano Albesiano believes there is one specific...
1d ago from MotorsportWeek.c...
Toprak Razgatlioglu’s manager backs Pramac...
No description available...
1d ago from Motorsport.com
Toprak Razgatlioglu admits MotoGP adaptation...
Toprak Razgatlioglu has admitted that his adaptation to MotoGP feels...
2d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
Scott McLaughlin: Arlington “instantly my most...
No description available...
1h ago from Motorsport.com
IndyCar drivers praise Fast Six qualifying format...
No description available...
2h ago from Motorsport.com
McLaughlin sets the early pace in IndyCar’s first...
The NTT IndyCar Series took to the track on a brand new street course...
2h ago from MotorsportWeek.c...
Pato O'Ward on the 'red flag' that has prevented an...
No description available...
6h ago from Motorsport.com
Popular On TotalWRC.com
WRC Safari Rally Kenya: Why 'you would be faster with...
No description available...
5h ago from Motorsport.com
Solberg clings on to Safari Rally lead as Ogier hunts...
Oliver Solberg started Friday with a 33.3 second lead over Elfyn Evans...
7h ago from MotorsportWeek.c...
WRC Safari Rally Kenya: Oliver Solberg hangs on to...
No description available...
7h ago from Motorsport.com
WRC Monte Carlo: Oliver Solberg takes early lead...
No description available...
13h ago from Motorsport.com
Popular On GunnersToday.com
Fabian Hurzeler reveals text message he sent Arteta...
Brighton & Hove Albion manager Fabian Hurzeler has revealed that he texted...
1h ago from SportsKeeda.com
Report: London outfit have a deal in place with...
Arsenal midfielder Dan Casey is all set to complete a move to Fulham....
2h ago from CaughtOffside.com
Arsenal & Chelsea in 'very serious' talks to sign...
Atletico Madrid striker Julian Alvarez has been linked with a move away...
3h ago from CaughtOffside.com
Arsenal preparing ‘formal offer' for 48-goal...
Arsenal are very interested in signing Leon Goretzka at the end of the...
3h ago from CaughtOffside.com
Comments
Hottest News
Honda issue official statement as Aston Martin F1 nightmare...
Honda have issued an official statement at the... Read More »
3h ago from GPFans.com
Adrian Newey blasted for Aston Martin disaster: 'He should...
Former F1 team manager Peter Windsor has... Read More »
8h ago from GPFans.com
Max Verstappen flirts with FIA punishment at Chinese Grand...
Max Verstappen almost slipped up once again... Read More »
1h ago from GPFans.com
