Formula 1 bosses make final budget offer to teams

Formula 1 bosses have made a final offer to teams of a sliding scale budget cap reducing from $145m to $130m over the next three years. The proposal is part of changes aimed at addressing the financial impact of the coronavirus in a letter to teams from F1 managing director Ross Brawn. In short, that means the team who finished last will be allowed 40% more aerodynamic research the following year than the top three. The FIA said the change was needed “in view of the unparalleled Covid-19 crisis”.

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