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McLaren hails F1’s ‘crucially important’ cost-cutting rules
McLaren Racing CEO Zak Brown has hailed the approval of a radical cost-cutting package as a “crucially important moment” for Formula 1. The World Motor Sport Council officially ratified major changes to F1’s sporting, technical and financial regulations by e-vote on Wednesday. These measures were headlined by the introduction of a reduced cost cap aimed at safeguarding the future of the sport in the wake of the coronavirus crisis. Teams have agreed to slash the budget cap from $175m to $145m for 2021, with the figure reducing further to $140m for 2022, and then to $135m for the 2023-25 period based on a 21-race season. McLaren was among the teams spearheading a push for...
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