Formula 1, FIA and all 10 racing teams have unanimously decided to delay the introduction of the new 2021 technical regulations by a year to 2022. In a conference call on Thursday, all stakeholders discussed the coronavirus pandemic and its impacts on the sport. The decision was made that the introduction of the new regulations be delayed by a year hoping to ease the financial burden on the teams, especially when the revenue for the teams would be less due to the fewer races are expected to take place this year.
It was decided that the 2020 regulations would be carried over to 2021. However, the FIA confirmed that only the technical regulations would be delayed. The implementation of the financial regulations will go ahead as planned. So budget caps are confirmed to stay on course. All parties are also working towards further ways to make significant cost savings.
In a statement, the FIA said “All parties further discussed the current situation of the 2020 championship and how the sport will react to the ongoing challenges caused by the COVID-19 pandemic. Due to the currently volatile financial situation, this has created, it has been agreed that teams will use their 2020 chassis for 2021, with the potential freezing of further components to be discussed in due course.
All teams have confirmed their support in the decision, and have also allowed the FIA and Formula 1 to restructure the calendar for the 2020 season as the global situation regarding COVID-19 develops. Currently, due to the coronavirus, raining on the plans for everyone the entire world and all sporting events, the Monaco Grand Prix has been cancelled, but other races that have been postponed are expected to be restructured into the new F1 calendar for the season. If all goes according to the current plan, then the inaugural race of the year is expected to be the Azerbaijan GP in June.
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