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F1 teams agree to explore budget cap further after crisis meeting

Formula 1 bosses ended their crisis meeting on Monday with an agreement to look further into the issues around lowering a budget cap. Teams had already agreed to reduce the original $175m (£142m) cap in 2021 to $150m (£122m) as a result of financial problems caused for F1 by coronavirus. But at the meeting, the top three teams pushed back on a proposal to reduce the cap further to $125m (£102m). And a bid to delay new rules by a further year to 2023 was rejected. The racing driver turned PPE delivery man Timeline: Coronavirus' impact on sporting events What happened with the budget cap? Before meeting, McLaren boss Zak Brown had warned in a BBC Sport interview that F1 was...
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3mo ago from BBC.co.uk 0
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