First images of the 2021 F1 car revealed along with bold changes to the rule book; Spending cap implemented; Shorter race weekends; Stock parts
For the previous two years, F1 has worked with the FIA to set new guidelines for the 2021 season and beyond. They’re fixing everything.
“The regulations, which were unanimously approved, will be married to a new governance and profit sharing structure that will enable the sport to grow and improve while further strengthening the business model. These agreements are in an advanced stage with the teams,” F1 said in a series release.
The cars will have a much better design. Additionally, the cars will be fitted with many stock parts. That’s something that some of the smaller teams, like Haas F1 have requested.
Beyond car rules, they’ve also introduced a spending cap. That’s designed to cut the gap between the large and smaller teams on a development standpoint.
Additionally, series officials will trim the race weekends. Similar to NASCAR’s enhanced weekends that save teams money on hotels and travel costs.
2021 F1 Rules: The Highlights
-Cars that are better able to battle on the track
-A more balanced competition on the track
-A sport where success is determined more by how well a team spends its money not how much it spends – including, for the first time, a fully enforceable cost cap ($175M per season) in the FIA rules
-Better business for those participating and more attractive to potential new entrants
-A sport that continues to be the world’s premier motor racing competition and the perfect showcase of cutting-edge technology
Chase Carey, Formula 1 CEO on the new F1 rules
“Formula 1 is an incredible sport with a great history, heroes and fans all over the world,” said Chase Carey, Chairman and CEO, Formula 1.
“We deeply respect the DNA of Formula 1, which is a combination of great sporting competition, uniquely talented and courageous drivers, dedicated teams and cutting-edge technology. The goal has always been to improve the competition and action on the track and at the same time make the sport a healthier and attractive business for all.”
“The approval of the rules by the World Motor Sport Council is a watershed moment and will help deliver more exciting wheel-to-wheel racing for all our fans.”
“The new rules have emerged from a detailed two-year process of examining technical, sporting, and financial issues in order to develop a package of regulations.”
“We made many changes during the process as we received input by the teams and other stakeholders and we firmly believe we achieved the goals we had set out to deliver. These regulations are an important and major step, however, this is an ongoing process and we will continue to improve these regulations and take further steps to enable our sport to grow and achieve its full potential.”
“One of the most important initiatives we will be addressing as we go forward is the environmental impact of our sport. We already have the most efficient engine in the world and in the next few weeks we will be launching plans to reduce and ultimately eliminate environmental impact of our sport and business.”
“We have always been at the leading edge of the automobile industry and we believe we can play a leadership role on this critical issue, as well.”
FIA President Jean Todt on 2021 Formula One rules
“After more than two years of intense research and development, of close collaboration with our partners at Formula 1, and with the support of the teams and drivers, circuit designers, the single tyre supplier, Pirelli and all F1 stakeholders, the FIA is proud to publish today the set of regulations that will define the future of Formula 1 from 2021 onwards,” Jean Todt added.
“It is a major change in how the pinnacle of motor sports will be run, and for the first time, we have addressed the technical, sporting and financial aspects all at once. The 2021 regulations have been a truly collaborative effort, and I believe this to be a great achievement.”
“A crucial element for the FIA moving forward will be the environmental considerations – Formula 1 already has the most efficient engines in the world, and we will continue to work on new technologies and fuels to push these boundaries further. What the FIA publishes today is the best framework we could possibly have to benefit competitors and stakeholders, while ensuring an exciting future for our sport.”