Formula 1's CEO Chase Carey says that Liberty Media will finalise plans for the 2021 season in the coming months. The sport is set for a major revamp in three years time, when the technical regulations receive a big shakeup.
Liberty has already presented its plans to F1 teams over the expected new engine regulations, which wasn't met with joy from Mercedes and Ferrari. But these plans have only been mere blueprints, and Carey expects a clearer picture to develop soon.
"We’ve introduced some recent regulation changes for next season," said Carey. "And we’ll introduce a larger list of sporting regulation changes in the coming weeks to further improve the sport.
"Most importantly we continue to move forward with a broader set of changes to cost structures, revenue distribution, regulations and governance – the so-called Concorde Agreement. We’ve made good progress with the teams, agreed on the goals and objectives, and now need to work through the details to find the right compromises as we finalise these agreements in the coming months for the 2021 season."
When asked how the current transitional phase is going, he said: "I feel good about the discussions. The devil is always in the details, and we have details to work through. But I think people agree with the goals, people agree with the direction, and I think the overall points of what we’re trying to achieve, and the vision for the sport."