COVID impact “opened the eyes” of Formula 1 teams – Tost

Following initial plans to introduce a $175 million cost cap for the 2021 season, F1 teams agreed to reduce the figure to $145 million from this year after the pandemic caused last year’s calendar to be heavily altered.
The move came as teams braced for a significant fall in prize money payouts from F1 as a result of the reduced revenue from track hosting fees.
The decision was also taken to …Keep reading