Formula 1 bosses reveal their vision for F1's future
By Pete Gill and James Galloway in Bahrain
Last Updated: 13/12/18 12:48pm
Formula 1's bosses have presented their proposal for the future of the sport after 2020.
Liberty Media, the sport's commercial rights holders, made the presentation ahead of the Bahrain GP to the ten F1 teams currently on the grid.
The proposal covers the sport's next era after the current Concorde Agreement - which binds the sport together - expires at the end of 2020.
Liberty have confirmed their intention to introduce a cost cap and 'cheaper and simpler' power units.
A new 'revenue distribution criteria' has also been proposed, 'based on meritocracy of the current performance and reward success for the teams and the Commercial Rights Holder.'
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Additionally, Liberty have promised to maintain differentiation between cars, but 'believe areas not relevant to fans need to be standardised'.
Attempts to improve overtaking and the spectacle will also be made.
Brawn explains Liberty's vision
F1 managing director of motorsports Ross Brawn has explained the group's vision of the sport's future in an exclusive interview with Sky F1.
"We've put our ideas to the team and asked them to consider them carefully," said Brawn. "It's fair to say the revenue model was new, our views on the cost cap were finally on the table.
"I'm not going to comment on the [cost cap] number because that's something we still want to discuss with the teams. What we are proposing, the purpose is to improve the sport. The purpose is to make the business more sustainable, bring the cars closer together but at a level that is still incredibly exciting.
"We think there is a need to readdress our references on what is correct to spend in Formula 1 and what isn't. Out of that, I think we will have closer competition, teams with better business models and we'll have a better sport."
How the teams have responded
Mercedes team principal and CEO Toto Wolff described the proposal as "a good starting point" but Ferrari are yet to formally respond to the presentation.
McLaren boss Zak Brown said "the impression is very positive and the direction in which they are taking is the right direction" while Red Bull's Christian Horner told Sky Sports F1: "The purpose of today was outlining the blue sky thinking Liberty have. The positive thing is they are really focused on the fans and creating a better show and a more affordable Formula 1."
Williams chief Claire Williams told reporters she considered "cracking open champagne" after the meeting.
"It's inevitable that when you are talking about a cost cap at the level we are talking about that the bigger teams are going to be hurt most," said Williams. "But I don't feel too sorry for them - they have had 10 or 20 years of having a wonderful ride in Formula 1 and winning everything, we haven't. We've been fighting and we've been fighting for survival."
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Formula 1's proposals at a glance
Key strategic initiatives
Power units (PU)
• The PU must be cheaper, simpler, louder, have more power and reduce the necessity of grid penalties.
• It must remain road relevant, hybrid and allow manufacturers to build unique and original PU.
• New PU rules must be attractive for new entrants and Customer teams must have access to equivalent performance.
• We believe how you spend the money must be more decisive and important than how much money you spend.
• While there will be some standardised elements, car differentiation must remain a core value
• Implement a cost cap that maintains Formula 1 position as the pinnacle of motorsport with a state-of-the-art technology.
• The new revenue distribution criteria must be more balanced, based on meritocracy of the current performance and reward success for the teams and the Commercial Rights Holder.
• F1's unique, historical franchise and value must and will still be recognised.
• Revenue support to both cars and engine suppliers.
Sporting and technical rules & regulations
• We must make cars more raceable to increase overtaking opportunities.
• Engineering technology must remain a cornerstone but driver's skill must be the predominant factor in the performance of the car.
• The cars must and will remain different from each other and maintain performance differentiators like aerodynamics, suspensions and PU performance. However, we believe areas not relevant to fans need to be standardised.
• A simple and streamline structure between the teams, the FIA and Formula 1.
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