By Daily Sports on May 6, 2020

Formula 1 bosses have made a final offer to teams of a sliding scale budget cap reducing from $145m to $130m over the next three years.

The proposal is part of changes aimed at addressing the financial impact of the coronavirus in a letter to teams from F1 managing director Ross Brawn.

F1 has proposed a cap of $145m (£116m) in 2021, reducing to $140m in 2022 and $135m for the period 2023-25.

Teams will spend the coming days assessing the ideas before a vote.

The proposals – which also include a sliding scale of allowance for aerodynamic research according to a team’s success, and compensation for the manufacturer teams recognising the value of research and development of parts sold to customers – are billed as a final submission after weeks of negotiations ended in impasse last month.

F1 targets $145m budget cap for 2021 season

Vandoorne crashes off pole position twice in eventful esports weekend

A final decision on whether there will need to be a meeting of team bosses with FIA president Jean Todt, F1 chairman Chase Carey and Brawn, or simply a vote on the proposals, will be made once F1 has had feedback from the teams. (BBC)

•PHOTO: Formula 1 Car 

Source Daily Sports

Posted May 6, 2020

Barcelona Coach Not Convinced By Plans To Restart...

Ozil ruled out of Arsenal-Liverpool showdown

Rumble in The Jungle II!

Legendary Gymnast Simone Biles Praised After Pulling Out...

Salah Nets Stunner As City Come Back Twice...

Ronaldinho Will Not Face Charges Over Fake Passport...