Formula One will unveil its 2021 sporting, technical and financial regulation package on March 26, before the start of the Bahrain Grand Prix weekend.

The long-awaited overhaul, in its complete and comprehensive form, will be presented to teams by Liberty Media in London during scheduled meetings of the Strategy Group and F1 Commission.

“We should be ready with the global package,”, said FIA president Jean Todt, during a joint press conference with F1 CEO Chase Carey.

“On the commercial side, the financial side, which is the responsibility of Formula 1, we have the cost control which is a new initiative which is quite well advanced.

“We have the engine regulations which have been sent to the teams a few days ago. And we have the chassis regulations and we have the governance.

“So those are all the different chapters which we are working and we should be in a position to have the final package to discuss with the teams on those opportunities on the 26th of March.”

Carey said that F1 and the FIA had both been encouraged by the discussions of late with the teams, with all parties making “good headway” on the massive regulation overhaul and a consensual approach dominating the talks.

“I think there’s a general agreement on the direction we’re going with everything,” said Carey.

“We’ve got 10 teams so we’ve got 10 different views on the details. So that’s part of what thrashing this out is.

“It’s not unique in the world to try to find the right compromises but I think directionally we’re excited about the opportunity to really provide a platform the sport can really from 2021 take off.”

Gallery: The beautiful wives and girlfriends of F1 drivers

Keep up to date with all the F1 news via Facebook and Twitter

The post F1 to present global 2021 regulation package to teams before Bahrain appeared first on F1i.com.