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F1 teams agree to reduce 2021 budget cap
F1 teams have agreed to a cost cap reduction Teams have agreed to reduce the budget cap set to be introduced into Formula 1 in 2021. Financial Regulations are set to be implemented for the first time in the sport's history next season. Originally it was planned to form part of a broader regulatory change with new Technical Regulations designed to improve the look of cars and increase the on track action. Those have been delayed until 2022, and possibly even 2023, in an effort to reduce costs to teams amid the COVID-19 pandemic. According to McLaren's Zak Brown, teams have now also agreed to lower the $175 million budget cap to just $150 million. He suggests that figure should come down...
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