F1 presents new car and rules for 2021
Formula One presented a dramatic overhaul of the sport on Thursday with a new car and regulations aimed at producing closer and cheaper competition from 2021 as well as more exciting and environmentally-friendly racing. The new technical, sporting and financial rules include a budget cap and represent the fruit of two years of discussions between various stakeholders. They were earlier approved unanimously by the governing FIA’s world motor sport council, with talks continuing over governance and profit sharing. “The goal has always been to improve the competition on the track and at the same time make the sport a healthier and attractive business for all,” said F1 chairman Chase Carey.