TEAMS’ DEAL MEANS F1 SPRINT RACES ARE NEARING SIGN-OFF FOR 2021
Extra finance for grand prix squads paves the way for radical race weekend shake-up
Saturday Formula 1 sprint races will be introduced in 2021 after squads and F1’s bosses reached a financial agreement to allow the 60-mile events to take place.
Teams were concerned that the new plan for three extra sprints would impact on their finances, particularly as they are all trying to adhere to new costcapping measures.
A deal has now been struck to grant extra cash to each team. Although it has not been confirmed, it is thought that each will receive $500,000 to cover the costs of the new sprint events.
There are measures in place to raise the individual cost caps should a particular squad incur a burden if one of its cars was involved in a major crash during the extra events. The races will take place at Silverstone on July 17, Monza on September 11 and at Interlagos in Brazil on November 6. The races will be fought out for a yet-to-be determined number of points and will set the grid for Sunday.
Before the deal was finalised, Red Bull team boss Christian Horner said the plans need to be thought through amid the push to reduce budgets across Formula 1.
“There just has to be a sensible allowance that takes [the budget cap] into account, because we’re chasing £10,000, £20,000, £30,000 savings to ensure that we’re hitting the cap,” he said. “To suddenly have a variable like this [sprint races] is something that just needs to be [taken into account]. We’re keen to support it but there needs to be an accommodation.”