Formula 1 takes a 'step closer' to 2021 revamp after team meeting
F1 starting "new chapter in illustrious history" with 2021 revolution
Last Updated: 27/03/19 10:43am
Formula 1 are a "step closer" to their 2021 rules revolution after setting the framework for the sport's future on Tuesday.
F1 and the FIA presented team bosses with their proposals, discussing "new technical and sporting regulations, power unit rules, costs, governance and revenue distribution".
F1's official website said the sport is "aiming to begin a new chapter in its illustrious history" and the championship "took a step closer to making that happen from 2021 onwards" as a result of the London meeting.
The Concorde Agreement, which governs the sport and sets out the commercial terms on which teams compete, expires at the end of 2020.
When's the Bahrain GP on Sky?
When and how to watch our exclusively live coverage of the Bahrain GP this weekend
The F1 2021 meeting debrief
From the F1 website: "In just over two years' time, F1 is aiming to begin a new chapter in its illustrious history that will feature new rules, governance structure, revenue distribution strategy and cost controls. And on Tuesday in London, the championship took a step closer to making that happen from 2021 onwards.
"Over the past months, F1 bosses and the FIA have been working on a framework that includes new technical and sporting regulations, power unit rules, costs, governance and revenue distribution and this was presented on Tuesday.
"The day opened with a meeting of the Strategy Group and was followed by a meeting of the F1 Commission, bringing together all of the sport's stakeholders to see how the vision has evolved almost a year on from the presentation F1 made to the FIA and teams in Bahrain last year.
"Ultimately, F1 wants to create great action and bring the cars closer together, make the drivers the heroes and make the business more sustainable."
What's on F1's agenda for 2021?
2021 is being viewed as the first big chance for Liberty Media to significantly implement their vision for the sport's future.
The American-owned company, who bought F1's commercial rights in 2017, want to make the sport more competitive and introduce a more even-handed revenue structure.
"I think we have a lot of support from the teams," added Carey. "Obviously when you get into the details, you've got 10 teams so you've got 10 different views on the details.
"But I think there's great support for the direction and the vision that we have for the sport."
F1, led by managing director Ross Brawn, also want to introduce much-changed new regulations that promote closer and more exciting racing.
Last October, Brawn revealed concepts for what cars could look like in two years' time, with aesthetics and overtaking-friendly aerodynamics a key part of the plans.
Is this what the cars could look like?
Sky Sports F1 is the home of live and exclusive F1 - and new and existing customers in the UK can now get the channel for just £10 extra a month, our best-ever offer. Find out more here to watch the 2019 season live