The introduction of Formula 1’s 2021 technical regulations has been delayed by a year.

The announcement came after a teleconference featuring all team principals, FIA president Jean Todt and Chase Carey and Ross Brawn of F1 to agree on a way forward for the sport as it continues to feel the effects of the COVID-19 Coronavirus pandemic.

The cancellation or postponement of the season’s first seven races will result in significant hits to the sport’s overall revenues and, in turn, the teams’ individual income streams.

With the immediate future uncertain and the likely prospect that several more races – if not the entire 2020 season – will be called off, an urgent meeting took place to discuss how the sport could mitigate some of the financial pain they will inevitably face.

The plan proposed and unanimously supported will see the 2020 rules maintained for a further season, leaving the sport’s radical new technical regulations to come into effect in 2022.

Furthermore, the 2020 chassis designs of each team, along with a number of key components, will be frozen and carried into the 2021 season to reduce costs. Aerodynamic development would still be permitted.

That would allow the teams more time and resources to design their new-spec cars to be ready for the 2022 season, however, this will occur under the new cost capped financial regulations which will not be deferred.

“Following unanimous agreement between the FIA, Formula 1 and all teams, the implementation of the Technical Regulations due to take effect from the 2021 season will be postponed until 2022,” a statement from the FIA reads.

“All parties further discussed the current situation of the 2020 championship and how the sport will react to the ongoing challenges caused by the COVID-19 pandemic.

“Due to the currently volatile financial situation this has created, it has been agreed that teams will use their 2020 chassis for 2021, with the potential freezing of further components to be discussed in due course.

“The introduction and implementation of the Financial Regulations will go ahead as planned in 2021, and discussions remain ongoing between the FIA, Formula 1 and all teams regarding further ways to make significant cost savings.

“All teams expressed their support for the FIA and Formula 1 in their ongoing efforts to restructure the 2020 calendar as the global situation regarding COVID-19 develops.

“All of these commitments will be referred to the relevant governing structures for final ratification.”

Image via FIA

The following two tabs change content below.

Richard Bailey

Founder & Chief Editor at MotorsportM8
Hasn't missed a Grand Prix since 1989. Has a soft spot for Minardi. Tattooed with 35+ Grand Prix circuits.