I was interested in an update article on the state of the nation with Formula 1 and the teams and where they are in the negotiations over the 2021 regulations changes. After ushering in a set of regulation changes for 2019, F1 CEO Chase Carey says that they are close to the 2021 changes as well. At least the details and compromises.
“We’ve introduced some recent regulation changes for next season,” said Carey.
“And we’ll introduce a larger list of sporting regulation changes in the coming weeks to further improve the sport.
“Most importantly we continue to move forward with a broader set of changes to cost structures, revenue distribution, regulations and governance – the so-called Concorde Agreement.
“We’ve made good progress with the teams, agree on the goals and objectives, and now need to work through the details to find the right compromises as we finalize these agreements in the coming months for the 2021 season.
“I feel good about the discussions. The devil is always in the details, and we have details to work through.
“But I think people agree with the goals, people agree with the direction, and the overall points of what we’re trying to achieve, and the vision for the sport.
“Nobody is going to get everything they want, but I think everybody recognizes that.”
A couple thoughts cross my mind on the timing. Sans Sergio Marchionne and a new Ferrari CEO just putting up his desktop pictures and figuring out where the coffee maker is in Maranello, Carey seems ready to forge ahead and get these agreed upon.
They say the devil is in the details but in this case, he’s not only in the details, he’s moved in, changed the curtains and is starting to have house parties every night. Fact is, there are serious discussions with serious ramifications that Ferrari and Mercedes are very keen to understand. There are other teams who feel those two manufacturers have too much power in F1. There are all teams who fear a reduction in prize money and are already concerned over F1’s reduced revenue due to increased marketing spend. As I said, lots of details and lots of ways this can get high centered.
Carey says the things may change along the way even when they start with a baseline for 2021.
“There will always be components that are moving, it’s not like you are done, particularly with issues like regulations,” Carey said.
“They are a living, breathing process, and will continue to evolve.
“Whenever you put sporting regulations or others, some change less frequently – obviously an engine doesn’t change that often – but other regulations will clearly change.”
I suspect achieving that initial baseline will be the tough part. I am also very curious about how the new Ferrari position will be stated and if any lines in the sand will be drawn from the Fiat empire’s new leadership. I haven’t read much about how any of them, from Fiat down to Ferrari, feel about F1 and their investment.
Hat Tip: Autosport
I think Chase Carey’s definition of details is different then everyone else’s definition of “details”.