F1 2021 new rules: Will there be a cost cap, and what other changes are being made?
LEWIS HAMILTON may be on the verge of a sixth drivers' championship in 2019, but the F1 bosses are already thinking about the sport's future.
With plenty of time needed to implement various ideas, teams, Formula One bigwigs and FIA have announced a host of new rules for the 2021 campaign - a season when the British driver could be eyeing a record-breaking eighth title.
But the biggest takeaway from the changes will be the introduction of a financial cost cap on all teams.
What is the 2021 F1 cost cap?
Often found in many American sports while European football has a similar case in the Financial Fair Play rules, F1 hope a cost cap will provide a closer competition between all teams.
The past six years have seen Mercedes cruise to the Constructors' title, while Ferrari and Red Bull have been their closest challengers.
But the remaining teams are all vying for the "best of the rest" title, knowing a bid for the top prize is often ruled out before the season is even underway.
The aim of this is to close this gap and also keep the smaller teams from putting themselves out of business to compete.
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The cost cap for 2021 has been set at $175m (£135m) for a 21-race season - with that figure increasing by $1m (£770,000) for each extra event, and is reduced by the same amount for each one knocked off.
But not everything is included within this figure, as it is solely based on car performance.
Marketing costs, race driver fees and the costs for each team's highest paid personnel are among those not included, along with corporate income tax, non-F1 activities, property fees and employee bonuses.
Some teams need to buy engines of one of the big manufacturers, but this has its own cap of 15m euros (£13m) per season.
Flight and hotel costs are also exempt from the rules.
Teams will be penalised if they go over, with three levels of breaches - with punishments ranging from a financial penalty to points deductions or race bans to outright exclusion from the championship in the most serious cases.
What other rules will be introduced?
The cost cap is just one of a number of new changes set to be enforced in 2021.
A key one is a redesign of the car, with the hope its sleek new look makes it more appealing.
And with this, the new design allows cars to race much closer in dirty air, meaning more entertaining racing.
Currently, cars lose around 40% downforce following another competitor, but that will be just five to ten percent in 2021.
There is also set to be a limit on car upgrades over race weekends and in-season aero improvements.
The race weekend schedule is also changing, with drivers set to do their pre-race press conferences on Fridays instead of on a Thursday to allow more free time for all personnel and media during the season.
There is an eye on the future racers, with all teams having to hand two practice sessions to drivers who have completed two Grands Prix or fewer.
Wind tunnel runs will be reduced, while the new low-profile tyres will be more resistent to moving around, which the teams with bigger budgets can test to find the perfect solutions - thus the incoming style means less development need, time and money.
