Formula 1 will impose on teams a cost cap of $175m a year from 2021 to 2025, with the measure included in the sport's newly created Formula 1 Financial Regulations that will exist alongside the FIA Sporting and Technical regulations. The long-awaited limit on spending, that will force F1's top three teams - Mercedes, Ferrari and Red Bull - to reduce their budgets, was devised by former Brawn and Mercedes financial executive Nigel Kerr. Kerr was hired by F1 managing director Ross Brawn to design a viable schedule of cost cutting measures. FIA to strengthen marshal procedures after Monaco close call The $175m limit shall be in force for five seasons, from 2021 to 2025, but will include a...
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