F1: Teams agree to a budget cap of 145 million as of 2021

That's what Ross Brawn revealed as sports director of Liberty Media at Sky Sports. Initially, the budget cap was supposed to be $175 million per season, but now, due to the financial problems of the corona crisis, there will be $30 million off the orginal budget.

Several large costs such as drivers' salaries are not included in this amount. The teams all gave their yes-worth during a video-meeting earlier on Monday. "We started at 175, that was a long battle to get it there, and with the current crisis, we’re now going to start at 145," said Brawn in a first reaction.

It is not yet clear whether the amount will decrease further in the coming years. That is what smaller teams are arguing for, but especially Ferrari and Red Bull Racing seem to be against it. They are afraid that their position will be affected if the field is levelled. "The discussion (now) really is how much further down we can drive the next few years.”