There’s a new, lower cost cap for Formula 1 teams as well as a new sliding scale for aerodynamic development, the FIA announced Wednesday (May 27).
The lower cap for 2021, set at $145 million, helps teams who have struggled financially as a result of the COVID-19 pandemic.
Officials also voted for more wind tunnel time for teams who finish at the bottom of the constructors championship. This is so the bigger teams won’t have too much of an edge over the underfunded teams.
Additionally, the governing body set a rule to limit downforce on cars in 2021. Teams will need to trim part of the floor so a new tire compound won’t be needed until the following year.
Other changes to help lower costs include a token system for modifications, a max amount of upgrades for power units in 2021 and a minimum weight increase (to 749 kg.) for next year.
Full regulation changes can be found here.
Joy joined Frontstretch in 2019 as a NASCAR DraftKings writer, expanding to news and iRacing coverage in 2020. She's currently an assistant editor and involved with photos, social media and news editing. A California native, Joy was raised watching motorsports and started watching NASCAR extensively in 2001. She earned her B.A. degree in Liberal Studies at California State University Bakersfield in 2010.
This was planned but I don’t think McLaren wanted to get rid of 1200 people.
https://www.cnbc.com/2020/05/26/mclaren-layoffs-1200.html
I think the number in the F1 team was predicted to be about 70. I suspect the road car division will bear the brunt of the cuts.
Regardless I think think they are only the first and it won’t be limited to F1.