Plans for a far-reaching overhaul of Formula 1 in 2021 will be presented to teams later this month by the sport’s commercial rights holder FOM and regulator, the FIA.
FOM CEO Chase Carey said the proposals, which will include new technical, sporting and financial regulations will allow Formula 1 to “take off”.The presentation will take place on March 26th during meetings of the Strategy Group and F1 Commission in London.
Speaking in a press conference at Albert Park today, FIA president Jean Todt said “We should be ready with the global package,” by then.
The proposals will include a budget cap to restrict how much teams can spend on their F1 programmes.
“On the commercial side, the financial side, which is the responsibility of Formula 1, we have the cost control which is a new initiative which is quite well advanced,” said Todt.
“We have the engine regulations which have been sent to the teams a few days ago. And we have the chassis regulations and we have the governance.
“So those are all the different chapters which we are working and we should be in a position to have the final package to discuss with the teams on those opportunities on the 26th of March.”
“I think there’s a general agreement on the direction we’re going with everything. We’ve got 10 teams so we’ve got 10 different views on the details. So that’s part of what thrashing this out is.
“It’s not unique in the world to try to find the right compromises but I think directionally we’re excited about the opportunity to really provide a platform the sport can really from 2021 take off.”
The FIA’s International Sporting Code requires that the 2021 regulations be signed off 18 months in advance, meaning the new rules must be approved by the end of June.
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Jimmi Cynic (@jimmi-cynic)
15th March 2019, 7:34
Fixed the message behind the medium, Keith.
Nigel
15th March 2019, 8:39
It can’t come soon enough!
Lets hope for 50-75% standardised parts, allowing teams to buy them in, with no performance loss.
And standard front/rear wings, letting the teams build the middle bit.
The emphasis should be firmly on action and pure racing, not hundreds of thousand wasted on winglets and bargeboards with no relevance and interest to anyone.
RogerA
15th March 2019, 15:02
totally disagree.
there should be as few standard parts as possible and the emphasis should be on performance & not purely ‘show’.
there are many out there who find the tech side of f1 including all tose winglets and bargeboards interesting and that is a huge part of what separates f1 from other categories.
if you go too far down the standard parts route, too restrictive on things like flaps, winglets & too ‘budget’ then what separates f1 from f2 or indycar & why should people bother watching f1 instead of those other categories?
f1 should be the fastest, most technical, most advanced & most expensive open wheel category & anything that does not follow this part of f1’s dna is doing nothing but diluting the sport indy indycar+.
Velocityboy (@velocityboy)
15th March 2019, 21:17
Will there be a pool where we can guess on things like how many team will threaten to leave on the initial release? Second release? etc.