Liberty Media Proposes Cheaper, Spectator Friendly F1 For 2021

Liberty Media discussed details on five key strategic initiatives including revenues, governance, technical regulations, power units and costs. Starting 2021, the details convey that F1 will be cheaper, more spectator friendly, with the revenue to support both the cars and engine suppliers.

By Sameer Contractor

1 mins read

Published on April 7, 2018

Highlights

Formula 1 will see a major overhaul in 2021 and the sport's new owners Liberty Media shared a glimpse of the changes will be like with the teams this weekend. F1 chairman Chase Carey boss Ross Brawn in a presentation with all the 10 teams for a 90 minutes at the Sakhir circuit in Bahrain to showcase the next direction for Grand Prix racing. Liberty Media discussed details on five key strategic initiatives including revenues, governance, technical regulations, power units and costs. Starting 2021, the details convey that F1 will be cheaper, more spectator friendly, with the revenue to support both the cars and engine suppliers. 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 the equivalent performance. Costs 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's position as the pinnacle of motorsport with a state-of-the-art technology. Revenues The new revenue distribution criteria must be more balanced, based on a meritocracy of the current performance and reward success for the teams and the Commercial Rights Holder. F1s unique, historical franchise and value must and will still be recognised. Revenue support for 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. Governance A simple and streamline structure between the teams, the FIA and Formula 1.