Formula One teams will seek more details on plans to overhaul the sport in 2021 from Liberty Media in a meeting today in Monaco.
The 10 teams want more detail on proposals which include introducing a budget cap, changing how revenue is distributed between the teams and revising the regulations.
“They need to be responsible steps, because some of the things like budget caps involve literally thousands of jobs through teams and suppliers and sub-contractors. It’s certainly heavy in the UK. But we’re waiting with interest. It will be interesting to see what the next stage of that roll-out is.”
Mercedes’ executive director Toto Wolff described the discussions around the proposed 2021 changes including the cost cap as “highly complex.”
“It’s about technical regulations, revenue distribution so there’s multiple balls in the air which you need to catch. I hope also that the meeting is productive, so we understand more and can act accordingly.”
The most contentious area of discussions is likely to involve changes to the power unit regulations, according to McLaren Group CEO Zak Brown.
“I think sponsors are excited about the future direction of the sport,” he said. “I think drivers either want to drive in Formula One or not so I don’t hear any drivers contemplating whether they want to drive in the new era of Formula One.”
“And then maybe engines, because that isn’t yet defined, that may be the one area that’s a bit difficult, sitting here today, to make decisions on. I’m not sure every engine manufacturer is definitively committed for 2021 so that would be the one area that would be difficult to maybe make a decision on today.
“But I think we have to have faith that everything is going to go in the right direction and the sport’s only going to get more exciting so I don’t see anyone leaving.”
Advert | Become a RaceFans supporter and
2018 F1 season
- Honda’s jet division helped F1 engineers solve power unit problem
- McLaren Racing losses rise after Honda split
- Ricciardo: Baku “s***show” was Red Bull’s fault
- “Drive to Survive Episode 1: All to Play For” reviewed
- F1’s television and social media audiences rose last year