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
Pedro Acosta fears intense MotoGP format means shorter...
No description available...
4h ago from Motorsport.com
Shoulder injury pushes Marc Marquez into his...
No description available...
1d ago from Motorsport.com
Exclusive: Ai Ogura in, Alex Rins out at Yamaha for...
No description available...
2d ago from Motorsport.com
Guenther Steiner: MotoGP riders ‘need to be of a...
Tech3 KTM CEO Guenther Steiner has continued to share his admiration for...
3d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
IndyCar representatives visit the Goiânia Raceway and...
No description available...
22h ago from Motorsport.com
Andretti confirmed to field just three cars for Indy...
Andretti Global has confirmed that the team will only run three cars in...
3d ago from MotorsportWeek.c...
AJ Foyt Racing adds Toby Sowery as reserve driver
No description available...
3d ago from Motorsport.com
Toby Sowery joins AJ Foyt Racing in IndyCar reserve...
AJ Foyt Racing has appointed Toby Sowery as the team’s reserve driver...
3d ago from MotorsportWeek.c...
Popular On TotalWRC.com
WRC Croatia: Driver crashes… then sits down for...
No description available...
14h ago from Motorsport.com
Thierry Neuville crashes out of Croatia lead in final...
A dramatic WRC Rally Croatia kept the biggest shock for the Wolf Power...
1d ago from MotorsportWeek.c...
Devastated Thierry Neuville vows to "come back...
No description available...
21h ago from Motorsport.com
Popular On GunnersToday.com
Tactics, tension and talk: How does Arteta stop...
The Premier League title race has brought up many iconic images down the...
1h ago from SkySports.com
Arsecast Extra Episode 690 – 13.04.2026
Welcome to another Arsecast Extra, the Arsenal podcast, with myself and...
2h ago from Arseblog.com
Arsenal move closer to signing Barcelona target as...
Arsenal have allegedly leapfrogged Barcelona in the race to rope in...
3h ago from SportsKeeda.com
Wayne Rooney makes Premier League title prediction...
Former England captain Wayne Rooney believes that Manchester City possess...
4h ago from CaughtOffside.com
Comments
Hottest News
Toto Wolff reveals shocking Mercedes plan to fire Lewis...
Mercedes boss Toto Wolff has revealed that, in... Read More »
1h ago from MotorsportWeek.com
George Russell facing unprecedented pressure as Kimi...
George Russell was heavily backed as the... Read More »
57m ago from RacingNews365.com
Toto Wolff reveals the moment he 'fired' Lewis Hamilton...
Mercedes F1 boss Toto Wolff has revealed a heated... Read More »
2h ago from GPFans.com
