F1 and coronavirus: An update from Formula 1 CEO Chase Carey

After several announcements on Thursday about race postponements and the effect of the coronavirus outbreak on the 2020 and 2021 seasons, Formula 1 CEO Chase Carey has provided an update on the current situation.

Following a meeting convened today between Formula 1, The FIA and all ten Formula 1 Team Principals I wanted to provide an update on what was discussed and agreed.

During this exceptional time and following several race postponements and the World Motor Sport Council’s (WMSC) unanimous decision to move the Formula 1 Summer break forward to March and April, we and the FIA discussed with the teams the need for extra flexibility to accommodate a rescheduled season once the COVID-19 situation improves.

At the meeting there was full support for the plans to reschedule as many of the postponed races as possible as soon as it is safe to do so. Formula 1 and the FIA will now work to finalise a revised 2020 calendar and will consult with the teams, but as agreed at the meeting the revised calendar will not require their formal approval. This will give us the necessary flexibility to agree revised timings with affected race promoters and to be ready to start racing at the right moment.

In addition, as announced by the FIA, it was agreed unanimously at the meeting that the implementation of the Technical Regulations due to take effect from the 2021 season will be postponed until 2022. Due to the currently volatile financial situation this has created, it has been agreed that teams will use their 2020 chassis for 2021, with the potential freezing of further components to be discussed in due course. The introduction and implementation of the Financial Regulations will go ahead as planned in 2021.

We are all very grateful for the collaborative nature of the discussions and fully united approach from all parties to get racing in 2020 as soon as the current global situation subsides. Formula 1 remains fully committed to launching a 2020 season as soon as possible.

Best wishes,

Chase

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