Date published: March 16 2019
Formula 1’s Strategy Group will meet on March 26 with the FIA and Liberty Media presenting their vision for the sport in 2021.
Formula 1’s current Concorde Agreement expires at the end of 2020 with new owners Liberty Media determined to push through changes.
Last year already they released a basic blueprint, hightlight new aerodynamic regulations, engine rules as well as cost cap.
The exact details, though, have yet to be ironed out.
Liberty and the FIA will do just that at a meeting in London on March 26.
“We will have a Strategy Group meeting on March 26 in London and we will have also the F1 Commission on the same day,” said FIA president Jean Todt.
“We should be ready with the global package, and the global package is on one side, the commercial side, which is the responsibility of F1, and we have the cost control which is a new initiative and quite well advanced.
“We have the engine regulations, which have been sent to the teams a few day ago, and we have the chassis regulations, and we have the governance [plans].
“They are all different chapters that we are working on and we should be in a position to have the final package to discuss with the teams on March 26.”
Should the Strategy Group approve the regulations, they will then be put before the F1 Commission to be voted on.
Todt was joined in the press conference by F1 chairman and CEO Chase Carey, who feels they have made “good headway” with the proposed regulations.
“I think those discussions are probably best not to have them on a stage with an audience,” Carey said. “I think they’re best had privately between us and the teams.
“I think we’ve made good headway. I think there is a general agreement and direction that we’re heading with everything.
“You get into the details, and if you’ve got 10 teams, you’ve got 10 different views of the details, so that’s part of what thrashing this out is. But it’s not unique in the world to try and find the right compromises.”