Formula 1 has presented its 2021 regulations after radical changes received unanimous approval from the World Motor Sport Council (WMSC).

2021 will see new technical, sporting and financial regulations, including the introduction of a cost cap that will limit team expenditure to $175 million per season, with some exceptions. The cars themselves have been designed to allow cars to follow more closely — with a big reduction on the amount of influence on a following car — with a focus on ground effect.

“Formula 1 is an incredible sport with a great history, heroes and fans all over the world,” F1 CEO Chase Carey said. “We deeply respect the DNA of Formula 1, which is a combination of great sporting competition, uniquely talented and courageous drivers, dedicated teams and cutting edge technology.

“The goal has always been to improve the competition and action on the track and at the same time make the sport a healthier and attractive business for all. The approval of the rules by the World Motor Sport Council is a watershed moment and will help deliver more exciting wheel-to-wheel racing for all our fans.

“The new rules have emerged from a detailed two-year process of examining technical, sporting, and financial issues in order to develop a package of regulations. We made many changes during the process as we received input by the teams and other stakeholders and we firmly believe we achieved the goals we had set out to deliver.

“These regulations are not a cure to all our issues. They are an important and major step, however — this is an ongoing process and we will continue to improve these regulations and take further steps to enable our sport to grow and achieve its full potential.

“One of the most important initiatives we will be addressing as we go forward is the environmental impact of our sport. We already have the most efficient engine in the world and in the next few weeks we will be launching plans to reduce and ultimately eliminate environmental impact of our sport and business. We have always been at the leading edge of the automobile industry and we believe we can play a leadership role on this critical issue, as well.”

FIA president Jean Todt says the regulations are the result of more than two years of work and research, and praised Carey for his focus in ensuring a cost cap was introduced.

“It is a major change in how the pinnacle of motorsports will be run, and for the first time, we have addressed the technical, sporting and financial aspects all at once,” Todt said. “The 2021 regulations have been a truly collaborative effort, and I believe this to be a great achievement. A crucial element for the FIA moving forward will be the environmental considerations — Formula 1 already has the most efficient engines in the world, and we will continue to work on new technologies and fuels to push these boundaries further.

“What the FIA publishes today is the best framework we could possibly have to benefit competitors and stakeholders, while ensuring an exciting future for our sport.”

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