McLaren has backed the changes made to Formula 1's Financial Regulations but says the restructure will lead to the "painful task" of reducing headcount. Formula... read more »

Formula One's post-coronavirus future took shape on Thursday after racing's governing body, the FIA, ratified several unprecedented measures in the technical and... read more »

Formula 1's budget cap has been reduced for the 2021 season following a unanimous agreement between all 10 teams, the FIA's World Motor Sport Council confirmed on... read more »

F1's big and wide-ranging package of cost-cutting measures - headlined by a tighter budget cap - have been approved from 2021 onwards as the sport bids to become more... read more »

McLaren is set to slash 1,200 jobs across their technology, automotive and racing businesses in light of the coronavirus crisis and in response tot he introduction of a budget... read more »

Formula 1 not only avoided losing a few of its smaller teams by cutting the budget cap but will also be "more interesting" to manufacturers. read more »

Haas team principal Gunther Steiner believes the reduced Formula 1 budget cap from 2021 will make involvement in the series a "clear cut" decision for interested... read more »

Haas boss Guenther Steiner has expressed optimism that Formula 1's impending budget cap will make the sport a more attractive proposition for manufacturers. Formula 1 has... read more »

Formula 1 teams have agreed to reduce the upcoming budget cap to $145 million (119 million pounds) for 2021, according to the BBC. read more »

All ten teams have agreed to a $145m budget cap, which, subject to ratification by the WMSC, will be introduced next year. read more »

Renault Formula 1 chief Cyril Abiteboul says Formula 1 is debating whether to add drivers' salaries to future budget caps. read more »

"He who is smartest, wins, whereas now it is he who spends the most wins," says Zak Brown as he calls for engine costs and driver salaries to be included in the... read more »

Jean Todt doesn't have "any fears" that Ferrari will use its veto to prevent Formula 1 lowering the budget cap. read more »

Formula 1's governing body has learned from the season's aborted opening event, so that Austria, unlike Australia, would go ahead even amid positive COVID-19 tests. read more »

Scuderia Ferrari's Team Principal, Mattia Binotto, has stated that the team are evaluating a potential entry into the NTT IndyCar Series as a result of Formula 1's... read more »

Ferrari is considering entering IndyCar in 2022 as it reacts to Formula One's plans to introduce a $145 million budget cap. read more »

Ferrari could enter IndyCar as the Scuderia looks at ways to avoid massive job losses in the wake of F1's reduced budget cap. read more »

Christian Horner will not be leaving Red Bull any time soon despite being at odds with the Red Bull bosses over the budget cap. read more »

A budget cap, and how effective it might or might not be, has been a hot topic in Formula 1 for quite some time read more »

Formula 1's teams are expected to vote through the finalised budget cap proposals presented to them by Liberty Media and the FIA this week. read more »

The Formula 1 teams are looking over the latest budget cap proposals before voting on what would be a five-year plan to lower the cap. read more »

Christian Horner is adamant customer cars are the solution to F1's problems as they are cheap and can be competitive. read more »

Magnussen believes the budget caps coming to F1 are Haas' chance to return to their past form. read more »

When Lawrence Stroll bought his F1 team he handed Racing Point a healthy cash injection, but Otmar Szafnauer says it still has the "lowest" budget on the grid. read more »

Claire Williams believes the introduction of a $145million budget cap for Formula 1 is an important step in ensuring "that our businesses are sustainable going into the... read more »