After more than two years of work involving the most detailed analysis of the sport’s on- and off-track operations, the FIA and Formula 1 have confirmed the future direction of the sport with the publication of a comprehensive set of new regulations that will define the series from 2021 onwards. The press conference was presented at the Circuit of The Americas in Austin by Formula 1 Chairman and CEO Chase Carey and FIA President Jean Todt. The new regulations are targeted at promoting closer racing and more balanced competition both on the track – with less aeronamically sensitive car design – and among teams as businesses with a fully enforceable cost cap ($175M per season), bringing economic and sporting sustainability to Formula 1.

Watch the full press conference here as well as a list of the full regulations for 2021.