The FIA and Formula One today announced that following a lengthy conference call with their teams that they have unanimously agreed the delay of the new regulations until 2022 as a result of Covid 19.

In a statement Formula One said:

Due to the currently volatile financial situation this has created, it has been agreed that teams will use their 2020 chassis for 2021, with the potential freezing of further components to be discussed in due course.

“The introduction and implementation of the financial regulations will go ahead as planned in 2021, and discussions remain ongoing between the FIA, Formula 1 and all teams regarding further ways to make significant cost savings.

“All teams expressed their support for the FIA and Formula 1 in their ongoing efforts to restructure the 2020 calendar as the global situation regarding COVID-19 develops.

“All of these commitments will be referred to the relevant governing structures for final ratification.

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