Formula 1

Mercedes & Ferrari have closely aligned against many of Liberty's ideas.

Formula 1 teams ready for next key meeting with Liberty Media over 2021 rules

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Leading Formula 1 team bosses have been outlining what they hope will come from a meeting with owners Liberty Media on Friday regarding rule changes for 2021.

It is the first significant face-to-face talks over F1's future since the Bahrain GP early last month when the only public statement made was the publishing of a list of five key areas CEO Chase Carey and the rest of his team hope to see covered by the eventual changes.

They include a new financial and governing structure, with more equal revenue distribution and fewer bonuses, as well as an overhaul of the sporting regulations with new cars which promote closer racing and the implementation of a budget cap to try and bring more equality to the grid.

The reason why such changes are possible is because, after 2020, all teams, the FIA and other stakeholders must sign up to a new commercial rights deal, currently known as the Concorde Agreement, which binds all the parties together.

Liberty's proposals haven't gone down well with some teams, however, notably Ferrari and Mercedes, with both claiming they could quit F1 if they disagree with the direction taken, that direction being what they consider a diluting of the sport's DNA.

One area of significant debate has been the engines, with Liberty wanting to simplify the current units by removing the MGU-H as well as making them cheaper and noisier.

There has even been the suggestion of standardisation in some technical areas including parts of the engine and the gearbox, all of which has drawn Ferrari's anger.

F1 Grand Prix of USA

Though the Italian team didn't comment ahead of the meeting in Monaco, Mercedes motorsport boss Toto Wolff did offer some insight into what he hopes emerges.

"It's a highly complex matter because it's about a cost cap - a potential cost cap - it's about technical regulations, revenue distribution, so there are multiple balls in the air which we need to catch," the Austrian explained to Autosport.

"I also hope that the meeting is productive so we understand more and can act upon it."

Red Bull has been one of the voices in Liberty's ear pushing for them to be aggressive in their vision and not allow the power of the manufacturers influence their decision.

Australian F1 Grand Prix - Practice

But team boss Christian Horner largely echoed Wolff's sentiment and hopes now the various parties can start going into greater depth.

"Hopefully a lot of detail will be put on the table as to what Liberty's next steps are," he said.

"They need to be responsible steps because some things, such as budget caps, involve literally thousands of jobs through teams, suppliers and sub-contractors, certainly in the UK.

"We're waiting with interest to see what the next stage of that rollout is."

F1 Grand Prix of Monaco - Practice

This week, McLaren executive director Zak Brown revealed he is contemplating whether to take the British team back to Le Mans and enter the WEC from 2020 but insists this will be alongside their F1 operation.

The American entrepreneur, who has interests in several series around the world, is also confident the rest will be convinced to stay.

"Engines is the one area that may be difficult to make decisions on because I'm not sure every engine manufacturer in the sport today is definitively committed for 2021," he said.

"But we've got to have faith that everything is going to go in the right direction and that the sport is only going to get more exciting. I don't see anyone leaving."

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Topics:
Christian Horner
Toto Wolff
Sebastian Vettel
Lewis Hamilton
Ferrari
McLaren
Mercedes
Red Bull
Formula 1

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