Mar.31 (GMM) Negotiations over the 2021 Concorde Agreement have been put on ice.
Talks about the expiring deal, which crucially regulates the distribution of income and the governance structure, were on track when the coronavirus pandemic struck.
Suddenly, there are no races and F1’s NASDAQ share price has slumped.
“Before any team signs up for five years, we all need to know if we can survive this crisis,” an unnamed team boss told Auto Motor und Sport.
“There is currently no talk of this topic. There are more important things to do right now.”
Indeed, the latest talks – set to resume with more teleconferences scheduled for mid April – have been about austerity measures like delaying the 2021 regulations.
It is believed an interim one-year Concorde Agreement for 2021 only could be a solution.
“During our last videoconference with the teams, the FIA and Liberty Media, we agreed to meet again in mid-April, depending on what the situation is then, to discuss the new situation,” Alpha Tauri boss Franz Tost told motorsport-magazin.com.
FIA president Jean Todt and F1 CEO Chase Carey are said to be contemplating pushing through a lower than $175 million budget cap for 2021.
But not every team is happy with the imposition of further measures. Ferrari and Red Bull, for instance, reportedly want to be able to alter their gearboxes for 2021.
Auto Motor und Sport claims that they have discovered the secret of how Mercedes connects the engine and transmission.