Formula 1 will cut the 2021 budget cap to $145 million, motorsport director Ross Brawn told Sky Sports in England.
F1 had already implemented a $175 million budget cap for the 2021 season before deciding to reduce it a further $30 million because of the current COVID-19 crisis.
“We started at 175, that was a long battle to get it there, and with the current crisis, we’re now going to start at 145,” Brawn told Sky Sports. “The discussion really is how much further down we can drive the next few years.”
F1 had also scheduled new rules and technical regulations for the 2021 season, but earlier pushed those back to 2022 because of the ongoing COVID-19 pandemic.