Formula 1 CEO Chase Carey has insisted that the proposed changes to the sport's power unit regulations for 2021 are designed to attract new teams. Many existing teams have expressed their displeasure with the rules proposed by F1's new owners Liberty Media. Ferrari have threatened to veto the changes - or even quit the sport entirely. But Carey said they were vital to bringing in new blood, along with plans to introduce spending caps. “I think the most important thing we can do is make the business model for owning a team much better,” he said. He explained that the matter of spiralling costs came up all the time in his talks with prospective teams. "They’ll end up saying today...
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