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: Yamaha struggles make me think...
No description available...
2h ago from Motorsport.com
Andrea Iannone returns to MotoGP paddock in...
No description available...
1h ago from Motorsport.com
Is Alex Marquez’s Jerez MotoGP breakthrough real or...
No description available...
2d ago from Motorsport.com
Popular On IndyCarToday.com
FOX unveils plan for 60 hours of Indy 500 coverage
No description available...
17h ago from Motorsport.com
Motorsport legend Alex Zanardi dies aged 59
Ex-F1 and CART driver Alex Zanardi has passed away aged 59. His family...
3d ago from MotorsportWeek.c...
Mick Schumacher shares injury update after breaking...
No description available...
4d ago from Motorsport.com
Zanardi: The man whose name is a synonym for “hero”
No description available...
2d ago from Motorsport.com
Popular On TotalWRC.com
How Ott Tanak can help Toyota's WRC 2027 car...
No description available...
1h ago from Motorsport.com
Why Hyundai’s WRC season “really starts” at...
No description available...
1d ago from Motorsport.com
M-Sport weighs up WRC new car build as all options...
No description available...
5d ago from Motorsport.com
Toyota steps up WRC 2027 car testing with new look...
No description available...
5d ago from Motorsport.com
Popular On GunnersToday.com
'It really is contagious' - Martin Zubimendi reveals...
Arsenal midfielder Martin Zubimendi has mentioned the two attributes he...
1h ago from SportsKeeda.com
5-year-contract: Journo drops transfer bombshell for...
Bayern Munich are wasting absolutely no time making their intentions clear...
2h ago from CaughtOffside.com
How many more points do Arsenal need to win Premier...
The Premier League title race took another incredible twist on Monday...
2h ago from SportsKeeda.com
Carragher makes Arsenal favourites against Atletico,...
As Arsenal prepare to host Atletico Madrid in the decisive second leg of...
5h ago from CaughtOffside.com
Comments
Hottest News
F1 boss admits Fernando Alonso qualifying failure was...
McLaren F1 boss Zak Brown has opened up on 'the... Read More »
54m ago from GPFans.com
Brundle's verdict on F1 rule tweaks and 'genius' Verstappen...
The 2026 Miami Grand Prix was an extremely... Read More »
54m ago from SkySports.com
Toto Wolff signals Mercedes intent with radical new 'mega'...
Toto Wolff says Mercedes is open to a radical new... Read More »
1h ago from RacingNews365.com
