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New F1 team Panthera pushing on with plans

Andrew Maitland

March 20, 2020

Even amid the coronavirus crisis, a new Formula 1 team project is pressing on.

Last September, it emerged that a prospective new outfit called Panthera Team Asia had set up camp near Silverstone.

Co-founder Benjamin Durand said then: “Our goal is Formula 1 in 2021.”

And even now, Durand says the project is “moving forward”.

“Our project is still moving forward but it is too early for us to make any statement,” he told the Portuguese publication Autosport.pt.

“We are still in discussion with all the parties involved such as the FIA and F1.

“We have also initiated talks with several engine suppliers who might be additionally willing to provide certain elements of the car but no formal agreement has been signed yet,” added Durand.

However, he admits that Panthera may not be able to get onto the grid for 2021.

“The maiden season will be determined by the timeframe we will have to get an entry, so all options are been studied right now,” said Durand.

https://grandpx.news/new-f1-team-panthera-pushing-on-with-plans/

 

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AMS: "Liberty and FIA are now even considering a budget cap of 100 million"

 

The new Concorde agreement has still not been signed by all teams. At the end of 2019 a good setup was made, but the signatures are still missing. Auto, Motor und Sport expects that this will remain the case for the time being. 

Since last November, the draft agreement has been on the lawyers' table. The technical regulations and the financial agreements have been adapted to the wishes of the teams and the legal advisors of the race stables. Liberty Media expected to be able to announce in April that all teams had signed, but the coronavirus is throwing a spanner in the works.

 

Focus now on other things

For the time being, the signatures are still pending. Teams agree to the Concorde Agreement for the next five years, not just anything. An unnamed team boss says to the German medium. "Before a team commits for five years, we all need to know if we will survive this crisis. At the moment, there's no talk at all about this subject. There are more important things to do now."

According to AMS, FIA President Jean Todt and Formula 1 boss Chase Carey have realized that the coronavirus situation gives them the golden opportunity to drastically reduce costs. A budget cap of $100 million is even mentioned now. For now, it stands at $175 million. All teams have to give their approval to lower the budget cap even further and especially the top teams seem to get in the way.

 

Consequences coronavirus possibly decisive

In the absence of a new Concorde agreement, a one-year extension of the current agreement would also be possible. The Concorde Agreement, which is to apply from 2021, is designed for the technical regulations that would originally enter the premier league of motor sport in 2021. However, this can no longer be complied with now, since the technical regulations have been postponed until 2022. A one-year extension of the current agreement would save time to overcome all bureaucratic hurdles. The consequences of the coronavirus for Formula 1 could mean that the top teams would still agree to a lower budget cap and thus make Formula 1 'financially healthier'.

https://www.gpblog.com/en/news/57445/ams-liberty-and-fia-are-now-even-considering-a-budget-ceiling-of-only-100-millio.html?campname=highlighted-content&camplink=onderaan

 

 

 

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Red Bull boss Horner says F1 teams seek delay to new rules to 2023

 

Formula 1 teams are looking to delay the introduction of the new technical regulations by one more year until 2023, according to Red Bull Racing chief Christian Horner.

F1 was set to introduce an overhauled set of technical regulations in 2021, but has been forced to postpone the plan until 2022 as a result of the ongoing COVID-19 pandemic.

Eight F1 races have already been either cancelled or postponed so far this year, impacting F1's anticipated revenue and the subsequent prize money awarded to teams.

This prompted the teams to unanimously agree to delay the new regulations until 2022 to avoid significant spending this year, and agree to continue racing with the current cars in 2021.

Development on the new cars has also now been banned for the rest of this year.

But the new regulations may be delayed by another year until 2023, with Red Bull team principal Horner saying there was "reasonable agreement" through the grid for another postponement.

"We're talking about pushing back a further year the new regulations, because in my mind it would be totally irresponsible to have the burden of development costs in 2021," Horner told BBC Sport.

"There seems to be reasonable agreement, but it needs ratifying by the FIA to push back those development costs into 2022 for introduction in the '23 season.

"The most important thing we need now is stability. Because the one thing we know is that whenever you introduce change you introduce cost, and stability right now and locking down as much of the car as possible is the most responsible way to drive those cost drivers down."

F1 is poised to introduce new financial regulations from 2021, including a $175 million cost cap, in a bid to create a more competitive field and reduce the performance gaps between teams.

Horner said there was "positive and healthy discussion" between the teams over the cap level, but felt it was "secondary' to the wider goal of reducing costs in anticipation of the economic impact the COVID-19 crisis will have.

"The cap is a ceiling - it is almost secondary as far as I'm concerned, it is reducing the cost in order to go racing," Horner said.

"With, let's say, 60% of the chassis frozen for the next 18 months, that will have a dramatic effect on reducing the operational costs of a grand prix team, whether that be for Red Bull or Williams."

https://www.autosport.com/f1/news/148861/horner-teams-seeking-rules-delay-to-2023

 

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Dosta staza je spremno da organizuje trke bez publike (RBR Ring, Silverston...) ali cak i tu ostaje problem putovanja preko granica i samog osoblja timova - i bez publike tu ima dovoljno ljudi da prekrsi zabranu masovnih okupljanja u pojedinim drzavama. Nada umire poslednja ali je sve manje mesta za organizaciju sezone. Nadam se da cemo ucackati nekakvih 8 trka do kraja godine cisto da se ispostuje forma svetskog sampionata ali strepnja mi je dublja od nade sto bi se reklo.

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F1 teams receive advance payments amid crisis

 

Formula 1 teams have have received payments in advance in order to protect the sport's "ecosystem" amid the coronavirus crisis.

 

Teams are paid a percentage of F1's overall income, which has taken a major hit as more and more races are lost from the calendar.

The top teams have some guaranteed fees under deals negotiated in the Bernie Ecclestone era, but those further down the field rely solely on a share of F1's ongoing profitability.

Liberty Media president and CEO Greg Maffei says that in order to help them through the current crisis, some teams have received early payments.

F1 is trying to plan a start to the season, even if that means races without spectators, in order to guarantee income from TV companies and its own sponsor partners.

"We have scenarios for zero races, anywhere from 15-18 races, races that begin with no fans present and only the teams," Maffei said in a call with Wall Street analysts.

"We really have a host of opportunities or challenges on all fronts. Chase [Carey] and his team are presented with multiple options – including until you know the timing how do you ask somebody to move an existing race in place of another race when you don't know when it's open?

"So we are watching how the opening of certain events is happening in Western Europe, in certain countries, and looking at options around that that maybe the start of the calendar. No guarantees yet, but that is certainly something that would be attempted."

 

Maffei stressed that races held behind closed doors would inevitably hit F1's income – and hence that of the teams – as such events won't involve a traditional host fee from promoters.

"There are challenges around how you do all that which require incremental capital as well. If you run races with no live audience, we'll obviously have lower profitability, maybe even no profitability.

"We may be sufficiently capitalised to handle that for 2020, but there are teams which will incur costs, particularly those which don't have minimum guarantees from F1, and one of the major if not their major source of revenue is their share of the profits of F1.

"There's a degree that we're running profitable or not profitable races, but they still need to incur all their costs of running their terms. It's a challenge.

"How do we do something that is beneficial for fans, but also doesn't have the teams bankrupting themselves by conducted no profit, or loss, races?

"We're not encouraging using our cash in an unwise fashion, but we're trying to balance the operating business and its current results against the operating results of our partners in the form of the teams, who do incur large costs.

"We have advanced money in advance of team payments for certain teams already. There are cases where we may do more of that. There are other things that we might do to bridge teams that might need help.

"We're certainly not viewing this as an open chequebook. We want to make sure that teams are solvent because they are part of what we need to race successfully in 2020, 2021, and beyond."

Regarding how soon F1 could get up and running, Maffei contrasted the sport with baseball, in which Liberty had an interest via the Atlanta Braves.

"The lead time really depends on a lot of things, how quickly can you get a team or series of teams that have been viewed as 'clean' to a location, where that location is, I think there are a lot of variables there.

"There is a benefit here in that you probably don't need two weeks of spring training to get the drivers back in form the way you need to get the players back in form. The drivers can probably race any time if you can get them and their team to a location safely."

https://www.motorsport.com/f1/news/f1-teams-advance-payments-crisis/4784113/

 

 

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Which sponsors have spent the most with Formula 1 in the past decade?

Which sponsors have spent the most with Formula 1 in the past decade?
 

Formula 1 sponsors come and go, but which companies have spent the most to be a part of the sport? Formula Money provided GPFans with the numbers behind F1.

A budget cap of $145 million is set to be introduced for the 2021 Formula 1 season, but this number is tiny in comparison to the numbers involved when talking about the sponsorship deals that make the racing possible.

10: Claro/Telcel/Telmex - $218m

This Mexican telecommunications company has rebranded several times across the past decade and they have also been involved with several teams - largely due to sponsorship deals with Mexican drivers Sergio Perez and Esteban Gutierrez.

 

Force India/Racing Point, Sauber/Alfa Romeo and Ferrari have all run with the branding. Gutierrez wore the branding on his overalls during his stint at Haas, but the then Telcel logo did not feature on the car itself.

acdb284d131699c5161cc8cc0225af817d131fa2.jpg
 
 

9: Mobil 1 - $237m

Mobil 1 were a prominent sponsor of McLaren until the 2017 season when, after two poor years of reliability in the McLaren Honda relationship, the sponsor jumped ship to Red Bull.

The oil and lubrication specialists also pay to have their brand visible at certain grand prix venues.

4223cd02d6ee1abbf9a0a2ea415edc437b8c538f.jpg
 
 

8: Vodafone - $299m

Another former McLaren sponsor, Vodafone branding featured on the McLaren throughout the early part of the decade but, at the end of 2013, the two parties parted ways.

The move coincided with the move away from McLaren of Lewis Hamilton but the two were not related, Vodafone announcing their intentions ahead of the season.

As with Mobil 1, the brand also made the most of the trackside advertising options.

cbe878681dbdd30ebe767f43525df14047f1051a.jpg  

7: Rolex - $327m

Rolex are the global partner of Formula 1. The giant green and gold clock hangs over the end of the pit lane at every grand prix and each session opens with the hand ticking across on live television.

At most grand prix, the branding can be seen along the start straight and on various trackside advertising boards along with the live timing screens.

c74375ab9e0c5658fc65417a50e50ae2f479fb0d.jpg  

6: Infiniti - $345m

Infiniti is the luxury car wing attached to Renault. Prior to rejoining the championship as a factory outfit in 2016, the Infiniti branding covered the sidepods of the Red Bull car.

At that time, Red Bull were powered by Renault and were in essence the factory team, much in the same way to how they currently operate with Honda. But when Renault entered themselves, the Infiniti logos were removed, and placed on the yellow Renault cars.

c3bbaecd5b14957bc625cbbe94f630ab40aa9452.jpg  

5: Pirelli - $381m (excludes the value of the tyre supply)

It is difficult to calculate the overall value of this particular sponsorship deal, so we'll focus on the money that changes hands.

Unlike when you have a flat tyre and need to pay for a new one, Pirelli pay Formula 1 for the privilege of supplying these tyres.

Clearly visible with branding at every circuit, sponsorship of the 'Pirelli Hot Laps' experience and with logos on every car, this deal could actually be the biggest bargain to appear on this list!

344bcc71b9657183e236f0ddf7e2aba4743efb87.jpg  

4: Shell - $412m

A common theme across the next few entries is one certain team. Ferrari.

While Shell enjoyed a large amount of trackside promotion across the decade, it is Ferrari who have benefited most from the sponsorship money of Shell in a relationship that stretches back to 1924.

56ad580bfd3a464794daa9ea7d84a4d4e53f21c0.jpg  

3: Santander - $514m

Chiefly a sponsor of Fernando Alonso, both Ferrari and McLaren have benefited from the sponsorship of the Spanish bank.

The relationship with McLaren ended in 2016, the later years of the partnership only involving Santander UK due to a connection with Jenson Button, while the bank ended their partnership with Ferrari at the end of 2017.

8bd3a75922a8fefd781b0fdadbafaefb96c16795.jpg  

2: Philip Morris International - $625m

The largest sponsor of any single Formula 1 team is this tobacco brand. By far the most controversial sponsor currently involved in Formula 1, given that tobacco advertising is banned in several countries, including Italy, Philip Morris continue to pump money into Ferrari through the Mission Winnow.

This initiative aims to create engagement around the role of science, technology and innovation as a powerful force for good in any industry, but such is the association to cigarettes, that even the official Formula 1 game removes the branding from the cars.

d45f1d7615396afb8daafe7328b7f74cbb95069b.png  

1: Petronas -$735m

Petronas are best known for their close relationship to the Mercedes Formula 1 team. Perhaps the figure here is so high due to the consistent level of sponsorship across the entire decade, but Petronas have also made the most of trackside advertising across the decade.

Petronas has been the title sponsor of Mercedes since returning to the sport in 2010 and the company also acted as the title sponsor to the Malaysian Grand Prix throughout it's stay on the calendar.

8f5e1382f36333130049f9ae09560fe9891f67b6.jpg

https://www.gpfans.com/en/articles/51985/which-sponsors-have-spent-the-most-with-formula-1-in-the-past-decade/

 

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FORMULA 1 SHUTDOWN EXTENDED

The World Motorsport Council has considered its prior guidelines not drastic enough in the current COVID-19 development scenario and now, Formula 1 shutdown has therefore been extended from the original 35 days to 63.

In the middle of March and all due to the crisis of the coronavirus, Formula 1 decided to anticipate its “shutdown” period. This is a period in which the Sports Regulations dictate that all teams must enter in a mandatory shutdown of their factories for two weeks. This shutdown is usually in August. This is a well-deserved holiday for all the people in the paddock and the staff working in the factories.

Today, on the 28 April, the FIA has released a new statement concerning the mandatory shutdown period all competitors have to observe. The initial 35 days span was not considered enough, accounting for the present and future Coronavirus threat.

All the teams will have to keep their factories off for 63 consecutive days during the months of March, April, May and/or June.

Surrounded by uncertainty regarding future pandemic scenarios, the WMC informed that, 50 days after the start of the shutdown period, upon application by a competitor, and subject to the prior written approval of the FIA, each competitor may use the services of a maximum of ten personnel to work remotely on long-lead-time projects.

A shorter span of shutdown time has been imposed on the Power Unit manufacturers (Ferrari, Mercedes, Honda, and Renault) any work on the engine development has been forbidden for 49 consecutive days (including the original 35). Also for them, subject to the same rules and approvals as for all the competitors, ten people per constructor could work remotely after 36 days from the start of the period.

Formula 1 seems to be willing to start the season in July, possibly with a season opener at the Red Bull Ring for the Austrian GP. In order to do so, it’s crucial for every team to keep every worker safe as it is the best way to pursue this goal.

 

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Horner: F1 should consider short-term customer car option

https://www.motorsport.com/f1/news/horner-customer-car-budget-cap/4787057/

 

Povraća mi se od ovog lika. Zašto menjati budžet i ujednačiti timove, zašto se baviti tim dosadnim stvarima kao što su dizajn i ideja kada mi možemo da prodamo polovnjake za sitne pare. To je rešenje! Retko skrnava faca

Edited by alpiner
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Formula 1's sweeping new technical regulations will "definitely" be introduced in 2022 despite pressure from teams to defer them a further year, Ross Brawn has told Sky Sports.

 

F1's first-ever cost-cap will still be on its way in 2021 as planned, with Brawn revealing they are in the final stages of agreeing a reduced spending limit.

https://www.skysports.com/f1/news/12433/11983360/f1-new-rules-definitely-coming-in-2022-not-2023-says-ross-brawn

 

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Formula 1 bosses make final budget offer to team

By Andrew Benson

Chief F1 writer

 

Teams will meet to discuss the offer made by F1 bosses

Formula 1 bosses have made a final offer to teams of a sliding scale budget cap reducing from $145m to $130m over the next three years.

The proposal is part of changes aimed at addressing the financial impact of the coronavirus in a letter to teams from F1 managing director Ross Brawn.

F1 has proposed a cap of $145m (£116m) in 2021, reducing to $140m in 2022 and $135m for the period 2023-25.

Teams will spend the coming days assessing the ideas before a vote.

The proposals - which also include a sliding scale of allowance for aerodynamic research according to a team's success, and compensation for the manufacturer teams recognising the value of research and development of parts sold to customers - are billed as a final submission after weeks of negotiations ended in impasse last month.

A final decision on whether there will need to be a meeting of team bosses with FIA president Jean Todt, F1 chairman Chase Carey and Brawn, or simply a vote on the proposals, will be made once F1 has had feedback from the teams.

What are the details?

The letter to team bosses lists a series of means by which F1 will cut costs in as fair a way as possible in the coming seasons.

A budget cap of $175m is already in the rules for 2021 but the coronavirus crisis will lead to a significant drop in income for F1, so bosses feel further changes need to be made.

In addition to reducing the level of the budget cap, two key proposals are those governing aerodynamic research and the "notional value" of customer parts.

One is aimed at levelling the field and the other at reflecting the value of the research and development resources invested by the big teams in parts they sell to others.

On aerodynamic research, there will be a defined benchmark amount of permitted wind-tunnel time and computing data, and a sliding scale of allowance of that data depending on a team's finishing position in the previous championship.

The top three teams in a given year will be permitted only 70% of the total allowance, the team who finished fourth 80%, then 5% increments until the ninth and 10th-placed teams are allowed 105% and 110% of the total.

In short, that means the team who finished last will be allowed 40% more aerodynamic research the following year than the top three.

The "notional value" rule defines a valuation for parts typically bought by customer teams from manufacturers, such as gearboxes, suspension and so on.

Once a team has bought those parts, their defined value is taken off their total budget cap figure.

 

 

Will the teams agree?

 Ferrari want the budget cap to stay where it is, McLaren want it to go down

Ferrari has been leading opposition to reducing the budget cap below $150m, saying it causes problems for them in terms of the large numbers of redundancies it would require.

The Italian team declined to comment but is understood to be assessing the potential impact of the changes as outlined in the letter.

But the FIA has recently made a rule change that effectively makes Ferrari's approval unnecessary.

Last month, its World Council approved a move to overturn the requirement for unanimous approval of competitors to amend rules at late notice.

A so-called "safeguard clause" has been added to the International Sporting Code so that only a majority is required.

The FIA said the change was needed "in view of the unparalleled Covid-19 crisis".

That means that as long as five teams agree to the proposals, any objections will not necessarily stop them being adopted.

Is anything else in the letter?

The letter also confirms a number of other rules that have been widely discussed in public and agreed already.

These include:

• the delay in the introduction of the wide-ranging 2021 technical regulations until 2022.

• the requirement for teams to race their 2020 cars in 2021 as well.

• the possibility that the format of some race weekends will change to facilitate cramming in as many races as possible once the championship gets under way this season - for example by compressing the on-track action into two days.

• the budget cap will reduce or increase by $1m for each race that is removed or added to the calendar. So, next year for example, it will be $145m if there are 21 races, but $144m if there are 20 and $146m if there are 22.

• a cap on engine development costs, which Mercedes is pushing for, is to be discussed at a later date.

https://www.bbc.com/sport/formula1/52550414

 

 

Edited by alpiner
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