Home F1 F1 presents technical, sporting and financial changes from 2021 onward

F1 presents technical, sporting and financial changes from 2021 onward

31/10/2019

F1 has presented the new technical, sporting and financial changes which will come in affect from 2021 onward ahead of this weekend’s US GP.

After years of discussion and also few months of delay, F1 has finally presented the new technical, sporting and financial regulations that will come into effect from 2021 onward, ahead of this weekend’s US GP at Circuit of the Americas.

Ever since taking over F1, Liberty Media’s biggest task was to conceptualise and also implement the 2021 changes, which will define the sport for the years to come. It is like a fresh start to one’s life with host of changes undergone.

For months, F1 has teased certain aspects of how the cars will look like, while the financial side was also discussed with the budget cap being the biggest point. The changes was revealed to the world in a press conference at COTA.

F1 boss Chase Carey opened the hearing with FIA President Jean Todt present via video conference. The Frenchman stated that the new regulations has been approved by the World Motor Sport Council unanimously.

The key points in a gyst as per the FIA are:

Cars that are better able to battle on the track
A more balanced competition on the track
A sport where success is determined more by how well a team spends its money not how much it spends – including, for the first time, a fully enforceable cost cap (starting at 175M$, with plans to reduce this number in the future) in the FIA rules.
A sport that is a more sustainable business for those participating
A sport that continues to be the world’s premier motor racing competition and the perfect showcase of cutting edge technology.

“After more than two years of intense research and development, of close collaboration with our partners at F1, and with the support of the teams and drivers, circuit designers, the single tyre supplier, Pirelli and all F1 stakeholders, the FIA is proud to publish today the set of regulations that will define the future of F1 from 2021 onwards,” said Todt.

“It is a major change in how the pinnacle of motor sports will be run, and for the first time, we have addressed the technical, sporting and financial aspects all at once. The 2021 regulations have been a truly collaborative effort, and I believe this to be a great achievement.

“A crucial element for the FIA moving forward will be the environmental considerations – F1 already has the most efficient engines in the world, and we will continue to work on new technologies and fuels to push these boundaries further. What the FIA publishes today is the best framework we could possibly have to benefit competitors and stakeholders, while ensuring an exciting future for our sport.”

At the same time, Carey added: “F1 is an incredible sport with a great history, heroes and fans all over the world. We deeply respect the DNA of F1, which is a combination of great sporting competition, uniquely talented and courageous drivers, dedicated teams and cutting edge technology.

“The goal has always been to improve the competition and action on the track and at the same time make the sport a healthier and attractive business for all. The approval of the rules by the World Motorsport Council is a watershed moment and will help deliver more exciting wheel to wheel racing for all our fans.

“The new rules have emerged from a detailed two year process of examining technical, sporting, and financial issues in order to develop a package of regulations. We made many changes during the process as we received input by the teams and other stakeholders and we firmly believe we achieved the goals we had set out to deliver.

“These regulations are an important and major step, however, this is an ongoing process and we will continue to improve these regulations and take further steps to enable our sport to grow and achieve its full potential. One of the most important initiatives we will be addressing as we go forward is the environmental impact of our sport.

“In the next few weeks we will be launching plans to reduce and ultimately eliminate environmental impact of our sport and business. We have always been at the leading edge of the automobile industry and we believe we can play a leadership role on this critical issue, as well.”