LIBERTY PLOTSF1’S FUTURE
Teamstoldofplanstooverhaul thecategoryfrom2021onwards
Formula 1 owner Liberty Media is due to resume discussions with teams in May over the future shape of the category, having tabled its blueprint for the 2021 rules cycle in Bahrain last weekend.
Liberty Media met with teams on Friday to share its vision for F1. Its plan is based around a five-point proposal designed to improve the racing, stabilise the business model for teams and even out the distribution of revenue up and down the grid. Liberty also wants to make F1’s governance clearer, as well as simplifying engine technology.
Many of the ideas revolve around the financial structure of the series in the future. Liberty wants to introduce a cost cap for teams, although an exact figure has yet to be confirmed. Ross Brawn told Sky Sports: “I don’t want to comment on a number as that is something we are still discussing. But we wouldn’t include a driver’s salary or marketing because in terms of developing a sport teams should be free to do what they want.”
Potential figures of £150 million have been touted, but Mercedes head Toto Wolff labelled that “too low for the big teams” and ultimately “not achievable”.
F1’s current revenue structure is also under review. Teams currently receive prize money based on their Constructors’ Championship performance, with Ferrari, Mercedes, Red Bull, Mclaren and Williams then all receiving bonuses for a variety of reasons.
From 2021, Liberty wants teams to receive cash based on results alone, with extra payments made to teams and engine manufacturers committing to the series. For example, Ferrari, Mercedes and Renault would get two payments – one to cover the team and one for the engine manufacturer – whereas Toro Rosso and engine partner Honda would get a payment each. Ferrari would still stand to receive a historical contribution bonus however, being the sole brand to have competed in every F1 World Championship.
This move could also entice more manufacturers into F1, due to it better recognising the commitment of engine builders. Aston Martin has been on the fringes of all future engine talks so far. Its boss Andy Palmer said: “We are extremely pleased to hear the news regarding the future of F1. These prospective changes support many of the requirements needed for Aston Martin to enter the sport as an engine supplier. This is a very positive step in the right direction.”
Liberty also announced plans to make the cars more “raceable to increase overtaking opportunities”. While it acknowledged that cars should remain different from each other in areas such as aerodynamics, suspensions and power units, it will look to bring in a greater level of standardised components to trim costs.
For engines, Liberty is keen to remain with a hybrid and road-relevant design, but simplified from the current V6 turbocharged units. It’s likely new plan will retain a turbocharged internal combustion engine with a standardised battery storage system. Liberty’s notes said the new engines must be “cheaper, simpler, louder, have more power and reduce the necessity of grid penalties”.
F1 head Chase Carey said: “F1 has a rich history and we want to preserve, protect and enhance that history by unleashing F1’s potential, by putting our fans at the heart of a more competitive and exciting sport. We are driven by one desire: to create the world’s leading sporting brand. Fan-centred, commercially successful, profitable for our teams, and with technological innovation at its heart.”
Brawn added: “The meeting was to pass the information and views on to the teams, and now they need to digest it, and then the discussion proper will start. But it was a straightforward meeting with no major controversies.”