Formula 1 teams are set to be presented with an updated version of the 2021 regulations proposal during a crunch meeting in London today (Tuesday).
Formula 1 teams, the FIA and Commercial Rights Holder (Liberty Media) will convene at gatherings of the Strategy Group and Formula 1 Commission in order to define the future direction of the sport.
The six leading teams, the FIA and CRH sit on the Strategy Group to discuss and vote upon ideas, while all stakeholders participate and vote on matters in the Formula 1 Commission.
FIA President Jean Todt indicated during the Australian Grand Prix that substantial progress had been made with the regulation package.
Specific details on the proposed 2021 regulations have yet to be defined but Formula 1 chiefs are keen to reduce the impact of dirty air to enhance the quality and quantity of racing.
A more aesthetic implementation of a planned second-specification halo, the switch from 13-inch to 18-inch wheels, as well as a standardised gearbox, are among the details that have already been outlined.
Liberty Media is also poised to present a revised commercial structure aimed at providing a more equitable revenue system, with a long-term cost cap also mooted.
Formula 1 boss Chase Carey has previously expressed confidence that all involved stakeholders will agree on the finalised package by the end of June deadline.
“We need clarity as there is a lot of talk going on,” said Haas’ Guenther Steiner.
“I think Chase is ready to present something to us so let us see what he presents and go from there.
“We are only 21 months away from the new season so we haven’t got a lot of time left.
“I think they realise that so we need to come out with something and let it be what it is.
“There are a lot of things; the governance, the commercial agreements, the budget cap, the technical regulations. If we get it all done in one meeting then good for us. But good luck.”
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