Formula 1's proposed 2021 rules a 'step in the right direction' say team bosses

Formula 1 is heading in the right direction with its proposed 2021 rules package according to several team bosses, after they were presented during a meeting in London this week.

The sport is looking to introduce a number of changes aimed at safeguarding F1's future, whilst making it more competitive and fairer from a budget and prize money perspective.

Discussing what was presented during Tuesday's meeting, which involved representatives from all ten teams, the FIA, Liberty Media and other key stakeholders, the general consensus was that it's a "positive" step forward which, although unlikely to satisfy all ten teams, is a good compromise.

"Chase [Carey] rolled out I think pretty much what we were all expecting around budget cap, revenue distribution, governance and technical rules," commented McLaren chief Zak Brown. "I don’t think anyone was surprised because he has been consulting with all the teams, really since this time last year.

"It was all a very positive step in the right direction. It’s probably not an ideal situation for any of the 10 teams but given that you have 10 teams you’re never going to land on something that works for all. So I think the fact that it’s maybe not perfect for any one team means that he got it pretty right."

Haas' Guenther Steiner agreed, but made reference to the difficult task Chase Carey and Ross Brawn have in finding agreement.

"There were positive talks. If they would all agree with what we want, we would be done. But they don’t. They’ve got their own thing to think about, so…. No, without joking about it, I think it’s a good step forward and hopefully we can get this done soon, because we need to move forward.

"We need technical regulations, we need the governance, to know how that works going forward, but Chase and Ross they work hard on it and together with the FIA, with Jean Todt, hopefully soon they can come up with the ultimate solution which will please all of us and find the right compromise among the 10 of us, which I don’t envy them to try to find the compromise between us 10, but somebody has to do it and they will get it done."

It's expected a budget cap of around $200 million will be confirmed for 2021, a fairer share of the prize money pot – although Ferrari is expected to keep some of its 'special' bonus payment – plus a greater list of standardised parts to ensure smaller teams aren't disadvantaged.

Toro Rosso's Franz Tost added: "There’s not too much to add. We talked about all the topics just mentioned and I think Liberty Media and the FIA is on the right way forward and I hope that soon we will have a final regulation on the sporting side, as well as the technical side.

"Regarding the commercial prospect, a little bit difficult, because as you can imagine the big teams do not want to spend less money, the smaller teams want to spend less money. It’s early or later a compromise we have to find to have a good and competitive and interesting Formula 1 in the future."

Tost says it's now a matter of timing and expects a confirmed package within the next six months.

"I think they are on the right way but time is now becoming a crucial factor because we have to decide – or they have to decide – now, the final version of all these different topics within the next half of the year – and I hope that they will do this."