The Formula 1 team does not want to sign a new Contract agreement to stabilize the situation

The Formula 1 team does not plan to sign a new contract agreement in connection with the difficult situation due to the pandemic coronavirus. We will remind, earlier it was cancelled races in Australia and Monaco and moved the stages in Bahrain, China, Vietnam, Spain and the Netherlands.

“Before someone agrees to participate in the championship over the next five years, all would like to understand whether we will survive this crisis. At the moment there are more important issues”, — quotes an unnamed representative of the team of Formula 1 Auto Motor und Sport.

It is reported that the leadership of the Formula 1 may consider the possibility of extending the current contract agreement for one year.

Recall that the entry into force of the new technical regulation was postponed from 2021 to 2022. Limiting budgets to $ 175 million will take effect in 2021, however, the FIA and Liberty Media are considering an option to reduce budgets to $ 100 million.

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