Several of Formula 1 team principals have spoken of the encouraging talks that have recently taken place between the teams and the owners of the sport, Liberty Media, with regards to the upcoming financial and regulation changes for the 2021 season.
The American organisation is planning to introduce new regulations in order to level the playing field within F1, such as a more even distribution of revenue and cost caps.
It appears talks have softened, however, despite some issues which still need addressed.
“It feels like we’re converging,” Red Bull’s Christian Horner.
“There are still a few elephants in the room but yeah, it feels generally like on all front we are converging in the right direction. Hopefully over the next few months something can get sorted.”
Horner’s comments were echoed by Racing Point principal Otmar Szafnauer.
“There is a deadline of mid-year for something to be published and I think we’re getting closer now,” he said.
“The FIA have asked the teams for feedback, which we’ve given.
“There are still some outstanding issues on some components that will either be supplied or not and when we know more information then I think we’ll get closer to that. But mid-year, something should be published.”
Some figures, such as Toto Wolff of Mercedes, and Cyril Abiteboul of Renault, would like the conversations to progress much quicker.
“There are so many important balls in the air, whether it’s prize fund redistribution or the cost cap, technical and sporting regulations,” said Wolff. “It is progressing slowly. We’d like to have it done sooner rather than later.”
Abiteboul concurred, saying: “We really see the end of June as the deadline. That is a necessary deadline for the sport, for the OEMs and for all teams really, to know what the future is holding and to start to make plans accordingly.”