• Technical, Sporting and Financial regulations unanimously approved by FIA WMSC
• The 2021 rules will be married to a new governance and prize fund structure to be announced at a later date

The FIA and Formula 1 today confirmed the future direction of the FIA Formula One World Championship with the publication of a comprehensive set of new regulations that will define the series from 2021 onwards.

After more than two years of work involving the most detailed analysis of the sport’s on and off track operations and following ratification by the World Motorsport Council, the new regulations were presented at the Circuit of the Americas in Austin, Texas by FIA President Jean Todt and Formula 1 Chairman and CEO Chase Carey.

Taking a holistic approach to the future success of the pinnacle of motor sport, the new suite of Technical, Sporting and Financial regulations are targeted at promoting closer racing and a more balanced competition, as well as bringing economic and sporting sustainability to Formula 1.

From 2021 onwards Formula 1 will have:

• cars that are better able to battle on the track;
• a more balanced competition on the track;
• a sport where success is determined more by how well a team spends its money not how much it spends – including, for the first time, a fully enforceable cost cap (175M$ per season) in the FIA rules;
• a sport that is a better business for those participating more sustainable business for those participating; and
• a sport that continues to be the world’s premier motor racing competition and the perfect showcase of cutting edge technology.

The regulations that have been unanimously approved will be married to a new governance and prize fund structure which will enable the sport to grow and improve while further strengthening the business model. These agreements are in an advanced stage with the teams.

Chase Carey, Chairman and CEO, Formula 1^®, said:

“Formula 1 is an incredible sport with a great history, heroes and fans all over the world. We deeply respect the DNA of Formula 1, which is a combination of great sporting competition, uniquely talented and courageous drivers, dedicated teams and cutting edge technology. The goal has always been to improve the competition and action on the track and at the same time make the sport a healthier and attractive business for all. The approval of the rules by the World Motorsport Council is a watershed moment and will help deliver more exciting wheel to wheel racing for all our fans. The new rules have emerged from a detailed two year process of examining technical, sporting, and financial issues in order to develop a package of regulations. We made many changes during the process as we received input by the teams and other stakeholders and we firmly believe we achieved the goals we had set out to deliver. These regulations are an important and major step, however, this is an ongoing process and we will continue to improve these regulations and take further steps to enable our sport to grow and achieve its full potential. One of the most important initiatives we will be addressing as we go forward is the environmental impact of our sport. We already have the most efficient engine in the world and in the next few weeks we will be launching plans to reduce and ultimately eliminate environmental impact of our sport and business. We have always been at the leading edge of the automobile industry and we believe we can play a leadership role on this critical issue, as well.”

Jean Todt, President of the Fédération Internationale de l’Automobile, said:

“After more than two years of intense research and development, of close collaboration with our partners at Formula 1, and with the support of the teams and drivers, circuit designers, the single tyre supplier, Pirelli and all F1 stakeholders, the FIA is proud to publish today the set of regulations that will define the future of Formula 1 from 2021 onwards. It is a major change in how the pinnacle of motor sports will be run, and for the first time, we have addressed the technical, sporting and financial aspects all at once. The 2021 regulations have been a truly collaborative effort, and I believe this to be a great achievement. A crucial element for the FIA moving forward will be the environmental considerations – Formula 1 already has the most efficient engines in the world, and we will continue to work on new technologies and fuels to push these boundaries further. What the FIA publishes today is the best framework we could possibly have to benefit competitors and stakeholders, while ensuring an exciting future for our sport.”

ENDS

About Formula 1^®

Formula 1^® racing began in 1950 and is the world’s most prestigious motor racing competition, as well as the world’s most popular annual sporting series. The 2019 FIA Formula One World Championship™ runs from March to December and spans 21 races in 21 countries across five continents. Formula One World Championship Limited is part of Formula 1^® and holds the exclusive commercial rights to the FIA Formula One World Championship™. Formula 1^® is a subsidiary of Liberty Media Corporation (NASDAQ: LSXMA, LSXMB, LSXMK, BATRA, BATRK, FWONA, FWONK) attributed to the Formula One Group tracking stock. The F1 logo, F1 FORMULA 1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX, PADDOCK CLUB and related marks are trade marks of Formula One Licensing BV, a Formula 1 company. All rights reserved.

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