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F1 approves $145m team budget cap as returning Dutch GP set for 2021

(by Clive Mason/Getty Images)

The International Automobile Federation (FIA) has approved a package of cost-cutting measures for Formula 1 that will include a $145m (€131.7m) team budget cap from the 2021 season, while the Dutch Grand Prix, scheduled to return for the 2020 campaign, has been postponed by a year.

The FIA’s World Motor Sport Council (WMSC) has approved by e-vote further changes to the sporting, technical and financial regulations governing F1, primarily due to the ongoing need to reduce costs and safeguard the motor-racing championship in light of the COVID-19 pandemic.

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