From a legendary team going on the market to budget cap approval, Formula One has thrown up another lively week of gossip in our news roundup.
Other snippets of news include the cancellation of another European race whilst Renault and Mercedes have been in the headlines for different reasons, as F1 continues to build towards a potential return in July.
Regulation Changes Approved
World Motorsport Council this week approved a series of regulation changes relating to financial, sporting and technical rules.
The biggest highlight of these changes marked the official approval of a budget cap, which will be set at $145m next season ahead of a $5m decrease in the following two seasons of which the budget cap between 2023-25 seasons will be set at $135m.
Other tweaks include the freezing of various components between this and next season and provision for tyre testing during Free Practice Two if necessary to approve a new tyre specification by Pirelli.
A full look at the various rule changes can be found HERE.
Dutch Grand Prix Cancelled
Organisers of the Dutch Grand Prix have announced that F1’s return to Zandvoort after 35 years has been delayed until 2021, following the decision to cancel the 2020 Dutch GP in light of the Coronavirus pandemic.
The decision to postpone the race’s return after a 35 year absence comes after discussions between F1 and organisers, who believe that everyone in 2021 “can celebrate this moment, the return of Formula 1 in Zandvoort, together with our racing fans in the Netherlands.”
Full details on Dutch GP postponement can be found HERE.
Williams up for Sale
Williams’ future in F1 is now in question after Williams Grand Prix Holdings (WGPH) announced that they have begun a “formal sale process.”
WGPH will also review “… all the various strategic options available to the Company.” whilst divestment of minority or majority stakes can’t be ruled out alongside selling off the entire company.
Williams F1 have also terminated their sponsorship deal with RoKiT owing to their current financial difficulties, following a €39m loss between 2018 and 2019 due to various factors.
For full details, please click HERE.
News Snippets
- Mercedes have slammed “irresponsible” reports that the team could withdraw from F1 at end of season and sell shares to Aston Martin. (Autosport.com)
- Hungaroring and Silverstone could swap slots with Hungarian GP held as part of a season-opening triple header featuring two Austrian races. (Crash.net)
- Renault have confirmed that they “remain committed” to F1 despite cutbacks in various parts of the business. (Motorsport.com)
- Mercedes’ Toto Wolff is apparently keen on Valtteri Bottas moving to Renault next season. (PlanetF1.com)
- McLaren Group have announced that they will cut over 1000 jobs due to effects of Coronavirus pandemic and the incoming budget cap next season. (F1.com)
- Ferrari will set up a new Driver Academy base in Sydney, Australia, as they look to unearth talent in the Asia-Pacific region. (Foxsports.com.au)
- Ferrari have gifted Kimi Raikkonen his 2018 US GP winning race car. (Twitter)