Formula 1 officials have confirmed they will delay finalising the updated technical, sporting and financial regulations for the 2021 season until the end of October.

Various F1 stakeholders were facing a race against time to get the new regulations agreed by the end of June, as per the deadline set out in the current regulations, with an overhaul of the sport planned for the 2021 campaign.

Despite progress being made in recent weeks that gave some hope of agreements being struck by the end of June, meetings this week have led to an agreement to delay finalising the new regulations until the end of October.

A final decision on the delay was taken after a meeting in Paris on Thursday that was attended by all 10 teams as well as drivers including defending world champion Lewis Hamilton and Renault's Nico Hulkenberg.

"Following discussions during the Canadian Grand Prix in Montreal and a meeting today, 13 June, in Paris between the FIA, Formula 1, Team Principals and Technical Directors from the 10 teams, the championship’s single tyre supplier and a number of  drivers – Lewis Hamilton, Nico Hulkenberg and Alexander Wurz - it has been unanimously agreed to defer the final presentation of the Technical, Sporting and Financial regulations for the FIA Formula 1 World Championship for 2021 and beyond until the end of October 2019," a joint statement from the FIA and F1 reads.

"While the FIA Formula 1 World Championship’s key stakeholders feel the core objectives outlined for the future set of regulations have been defined, in the interests of the sport it was agreed that the best outcome will be achieved by using the extra time for further refinement and additional consultation.

"Furthermore, following today’s first meeting featuring the aforementioned stakeholders, a series of additional meetings will be held over the coming months."

The delay will give officials and teams a chance to find more common ground on a number of topics for 2021, including a proposed budget cap that is intended to come into force.

The existing sporting and technical regulations expire at the end of the 2020 season, as does the Concorde Agreement that covers all commercial aspects of F1.

Comments

Loading Comments...