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F1 delays decision on new regulations

The Formula One motor-racing championship has delayed making a decision on changes to its technical, sporting and financial regulations from 2021 until the end of October.

F1 held discussions with the International Automobile Federation (FIA), team principals, technical directors and tyre supplier Pirelli, as well as a number of drivers including Lewis Hamilton, Nico Hülkenberg and Alexander Wurz during last weekend’s Canadian Grand Prix and at a meeting yesterday (Thursday).

Following the discussions, F1 agreed to defer the final presentation of the regulation changes until later in the season. F1 said a number of additional meetings will be held over the coming months.

The rules had been due to be put forward for approval this month but a delay had been sought by some teams.

F1 added in a statement: “While the FIA Formula 1 World Championship’s key stakeholders feel the core objectives outlined for the future set of regulations have been defined, in the interests of the sport it was agreed that the best outcome will be achieved by using the extra time for further refinement and additional consultation.”

F1 said in March that it had taken a “step closer” to overhauling a number of its rules in 2021 following a meeting of key stakeholders. The series said at the time that its new chapter would feature “new rules, governance structure, revenue distribution strategy and cost controls”.

F1’s current and technical regulations expire at the end of the 2020 season. The series’ Concorde Agreement also expires at the same time and F1 chief executive Chase Carey has previously said he would seek to eradicate this when its current term ends.

The Concorde Agreement is the contract which divides up the commercial revenues of F1, including television rights and prize money, along with specifying technical regulations. In 2017, Carey described the agreement as “infamous” and said Liberty Media’s plans were to create a more “long-term partnership”.