Formula 1 needed to delay the confirmation of its 2021 rules package to ensure it "thrives" over the next decade, according to Mercedes chief Toto Wolff.
F1 had been due to set out its plans for '21 in June, as per World Motor Sport Council rules, but unanimously agreed to delay that until October in order to seek further clarification on a number of key areas.
To ensure all the teams were onboard with the delay, it has been agreed that a $175 million budget cap will be introduced, but aerodynamic, sporting and commercial matters are yet to be signed off – these will be announced in October.
Wolff believes the delay was necessary to ensure the best possible outcome for the sport, teams and fans, as stakeholders work to refine the rules and ensure they deliver on what's been promised.
"Last week, the ten F1 teams met with the FIA and Formula 1. We agreed to postpone the presentation of the 2021 regulations until October, giving us all more time to work on them to achieve our shared goals," said the Mercedes chief.
"Formula 1 is the undisputed pinnacle of motorsports; every weekend, millions of fans around the globe share our excitement about racing.
"We want to use the unique opportunity of the 2021 regulations to make the series even more exciting for the fans, to make the racing more competitive and to grow the sport globally.
"Finding the right compromise between the various stakeholders is not easy, but we're united in our passion for racing and our will to define a set of rules that will see Formula 1 thrive in the next decade."
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