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https://www.racefans.net/2018/04/06/libe...y-changes/
Liberty Media’s 2021 proposal include cost cap and prize money changes
2021 F1 seasonPosted on
| 6th April 2018, 10:33
Dieter Rencken / Author
Keith Collantine
Liberty Media has proposed introducing a budget cap among a raft of changes to be introduced to Formula One in 2021.
Teams were told at a meeting at the Bahrain International Circuit today of a series of proposals to change how income is distributed and costs are controlled within the sport.
Following the meeting the sport’s commercial rights holder announced the following “strategic initiatives”:
Power units (PU)
• The PU must be cheaper, simpler, louder, have more power and reduce the necessity of grid penalties.
• It must remain road relevant, hybrid and allow manufacturers to build unique and original PU.
• New PU rules must be attractive for new entrants and Customer teams must have access to equivalent performance.
Costs
• We believe how you spend the money must be more decisive and important than how much money you spend.
• While there will be some standardised elements, car differentiation must remain a core value
• Implement a cost cap that maintains Formula 1 position as the pinnacle of motorsport with a state-of-the-art technology
Revenues
• The new revenue distribution criteria must be more balanced, based on meritocracy of the current performance and reward success for the teams and the Commercial Rights Holder.
• F1s unique, historical franchise and value must and will still be recognised.
• Revenue support to both cars and engine suppliers.
Sporting and technical rules & regulations
• We must make cars more raceable to increase overtaking opportunities.
• Engineering technology must remain a cornerstone but driver’s skill must be the predominant factor in the performance of the car.
• The cars must and will remain different from each other and maintain performance differentiators like aerodynamics, suspensions and PU performance. However, we believe areas not relevant to fans need to be standardised.
Governance
• A simple and streamline structure between the teams, the FIA and Formula 1.
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