It’s the moment we’ve all been waiting for: what does Liberty Media have planned for the future of F1? Well, it revealed the proposals for the 2021 regulations to teams in Bahrain on Friday and although the specifics have yet to be announced, some general guidelines have been revealed.
Among the proposals are a cost cap (unconfirmed, but believed to be just $150 million) which it’s hoped will be achieved through the introduction of more standard parts. Prize money distribution is also being made fairer – RIP historical bonus, Ferrari…
It also outlined the already-confirmed need for simpler, louder power units which are more attractive to any potential new manufacturers. All of this also works towards the goal of the one thing we all want to see – better racing.
Despite the changes, Liberty is also keen to ensure that the historical DNA of F1 remains. The engineering challenge and fact that all the cars are different from one another is another thing Liberty is keen to preserve.
Here are F1s ‘Key Strategic Initiatives’ in full:
Power units (PU)
- The PU must be cheaper, simpler, louder, have more power and reduce the necessity of grid penalties.
- It must remain road relevant, hybrid and allow manufacturers to build unique and original PU.
- New PU rules must be attractive for new entrants and Customer teams must have access to equivalent performance.
- We believe how you spend the money must be more decisive and important than how much money you spend.
- While there will be some standardised elements, car differentiation must remain a core value
- Implement a cost cap that maintains Formula 1’s position as the pinnacle of motorsport with a state-of-the-art technology.
- The new revenue distribution criteria must be more balanced, based on meritocracy of the current performance and reward success for the teams and the Commercial Rights Holder.
- F1s unique, historical franchise and value must and will still be recognised.
- Revenue support to both cars and engine suppliers.
Sporting and technical rules & regulations
- We must make cars more raceable to increase overtaking opportunities.
- Engineering technology must remain a cornerstone but driver’s skill must be the predominant factor in the performance of the car.
- The cars must and will remain different from each other and maintain performance differentiators like aerodynamics, suspensions and PU performance. However, we believe areas not relevant to fans need to be standardised.
- A simple and streamline structure between the teams, the FIA and Formula 1.
OK, so it’s pretty vague and not quite the definitive set of regulations we were perhaps anticipating, but it gives everyone a good starting point for discussion. As time goes on I’m sure the specifics will be revealed, and I’m sure we’ll hear plenty of arguing from the likes of Mercedes and Ferrari, who stand to lose out the most.
What do you think of Liberty’s plan? Let us know in the comments.