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Formula One teams find agreement on budget cap


In the pursuit of a level playing field — which is currently skewed by astronomic spending differentials — Formula One teams may have found a solution.

In fact, they have done the impossible — agreeing to a new budget cap from 2021 onward, The Guardian reported.

Even Ferrari, the team with the most historical clout, agreed to the new rules.

Following lengthy negotiations, F1 will be decreasing spending on a sliding scale over several years. The cap will be set at US$145 million (£119m) in 2021, dropping to US $140 million in 2022, then US$135 million for 2023-25, The Guardian reported.

The cap is seen as a vital component of ensuring the sport remains sustainable for the future. F1 and the FIA have been pursuing a spending cut for some time but the financial implications of the coronavirus pushed the sport to go further than expected.

The agreement has also introduced the concept of an increased allowance of aerodynamic research and development on a sliding scale based on a team’s position in the constructors’ championship, The Guardian reported.

To be weighted in favour of reverse order of success, the intent is to close up the grid and is viewed as a positive development by F1 and the FIA. It is set to be employed in 2021 as the teams work on developing cars for the new regulations of 2022.

For 2021 F1 cars will have a radical new design philosophy and striking new look — with sweeping bodywork, simplified front wings, bigger rear wings, increased underbody aerodynamics, wheel wake control devices, simplified suspension and low-profile tyres with 18-inch rims.

It’s also proposed that the wheel rims will be fitted with a rotating LED display panel, to provide information to spectators, while a bodywork display panel is also proposed for the same reason.

Though aesthetics were a major consideration, the changes outlined above aren’t just cosmetic — over several years, both Formula 1 and the FIA have been working tirelessly to design cars that can race more closely.


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