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Formula 1 teams agree cost-cutting package

Formula 1 teams have agreed to a package of cost-cutting changes to help the sport ride out the coronavirus pandemic, BBC Sport can reveal. Teams voted to accept a plan to lower the budget cap to be introduced next year by $30m to $145m (£118.6m). This will be reduced again to $140m in 2022 and $135m for the period 2023-25. This is one of a series of measures aimed at reducing costs and levelling the field, including a research-and-development handicap system. The package still needs to be officially approved by F1's legislative body, the world motorsport council of governing body the FIA. Its vote will take place next week and is expected to be a formality. More to follow Could...
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1w ago from BBC.co.uk 0
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