Formula 1 bosses make final budget offer to teams

  • Written by  A.P.,Source:BBC
  • Comments:DISQUS_COMMENTS
(Photo by Instagram) (Photo by Instagram)

Formula 1 bosses have made a final offer to teams of a sliding scale budget cap reducing from $145m to $130m over the next three years.

The proposal is part of changes aimed at addressing the financial impact of the coronavirus in a letter to teams from F1 managing director Ross Brawn.

F1 has proposed a cap of $145m (£116m) in 2021, reducing to $140m in 2022 and $135m for the period 2023-25.

Teams will spend the coming days assessing the ideas before a vote.

The proposals - which also include a sliding scale of allowance for aerodynamic research according to a team's success, and compensation for the manufacturer teams recognising the value of research and development of parts sold to customers - are billed as a final submission after weeks of negotiations ended in impasse last month.

 

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