FORMULA 1’s commercial owners are presenting their plans for the future of the sport this morning in Bahrain.
The presentation will be made by Liberty Media and the FIA, motorsport’s governing body, to the bosses of the ten F1 teams currently on the grid.
Friday’s presentation will set out Liberty’s vision of F1 after 2020 when the current Concorde Agreement — which binds the sport together — is due to expire.
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The latest plans surrounding engine rules and cost control are expected to be detailed.
Liberty have not divulged any details of their plans in advance of the presentation but chairman Chase Carey told Sky Sports F1 at the season-opening Australian GP: “We’re excited about where we can take this sport to. I think there is a broad consensus.
“There’s always going to be differences in the specifics. We’ve got a great sport, great history, great future, great stars, great teams, and in every sport we’ve got to continue to find ways to make it better.
“We’re excited for that opportunity and looking forward to engaging with the teams.”
In October, Liberty revealed their proposals for F1’s engines after 2021, based around the principles of maintaining the road relevancy of F1’s power units, increasing the sound and reducing costs.
But Ferrari responded to the engine proposal with a warning they could quit F1 if they are unhappy with the sport’s future direction.
WHAT’S BEING SAID BEFORE THE PRESENTATION
Sky F1’s Martin Brundle: “The most important six months in F1 history is coming up … The media, sporting and motoring landscape is changing both dramatically and dramatically quickly and so Formula 1 2021 has to be absolutely right first time.
“That’s a huge challenge. Where are we heading and what do we do? What do we stand for? How do we engage the fans and sponsors? What are we trying to achieve? If you’re going to get 2021 right, the rules need to be in place now.”
Haas team principal Guenther Steiner: “I would like to hear that we have a budget cap, a little bit more equal distribution of money, and the main thing being what they actually think for 2021 so that we can make plans.
“Whatever they present, at least we have something we can work with. I think they will do that and then we can see if we are happy with what we hear.”
Force India driver Sergio Perez: “Now the GPDA is more united than ever. I hope that we can have our voice [heard]. We are all sticking together and definitely want the best for our sport, so we want to be working with Liberty to bring the whole sport closer to the fans.
“We really want to be working together with Formula 1 to improve the show and bring the whole field a lot closer with more competition. It’s what the sport needs and all the drivers are up for it. So whatever we can do to help, we’ll be up for it.”
Originally appeared on Sky Sports