FIA approves new set of rules for Formula One; budget cap and new sliding scale included

World Motor Sport Council announced a set of guidelines on Wednesday, May 27. The new guidelines includes a new price cap and provisions to hold closed-door events. The changes were set to be rolled out later but due to the coronavirus pandemic are set to be introduced soon. READ: Formula One Teams Agree To Lower The Budget Cap, Will Decrease Expenditure By $30 Million FIA announces changes BREAKING: The @FIA World Motor Sport Council has confirmed rule changes for 2020, 2021 and 2022, including a new cost cap and aero rules#F1 pic.twitter.com/jZOxNcaNKD — Formula 1 (@F1) May 27, 2020 A cost cap had already been agreed by the teams and the sport's governing body, but after Wednesday's vote the cap for 2021 will be lowered from the original figure of $175 million per year to $145 million, with further reductions in the following years. "The aim is to deliver a more competitive championship that features a more level playing field, while ensuring the drive for creating unique and boundary-breaking technology and engineering remains," F1 says. READ: Fernando Alonso Open To Formula One Return Amid Speculations Of Deal With Renault Another important development that has taken place is the introduction of a new sliding scale for aerodynamic development, which will be introduced in 2021. As per the agreement, the lower a team finishes in the constructors' championship, the more wind tunnel time it will be allowed to use to develop the car the following year. The aim is to cut costs and level the playing field. “Will it level the playing field over the course of a season? Probably not. But over the course of a few seasons, it’s very unlikely you will not see a closing of the grid," said F1 Head of Aerodynamics Jason Somerville, who has been part of the team shaping the new Technical Regulations. READ: Formula One Grid In 2021: What We Know So Far Other changes include a measure to limit downforce on the 2021 cars - the new rule means teams will have to trim part of the floor to reduce the downforce, largely so a new tyre compound will not be needed for next season. A token system will be used to allow a very limited number of modifications, a limitation on the number of upgrades a power unit manufacturer can do over the course of a season, increase in minimum weight from 3kg to 749kg, and provisions to hold closed-door events. (With agency inputs) READ: F1 Demands Quarantine Exemptions For Elite Sport

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FIA approves new set of rules for Formula One; budget cap and new sliding scale included

A cost cap had already been agreed by the teams and the sport's governing body, but the cap for 2021 will be lowered to $145m from $175m

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