Formula One has announced that the new technical rules that were supposed to come into effect in the 2020 season will now come into effect in the 2021 season. The development takes place in the backdrop of the Coronavirus outbreak and the financial pressure faced by the teams.
BREAKING: F1, the FIA and all 10 teams have unanimously agreed to delay the introduction of the 2021 technical regulations by a year to 2022 ⬇️#F1— Formula 1 (@F1) March 19, 2020
In a statement on Thursday, the authorities announced that all concerned authorities and teams have agreed to delay the introduction of the 2021 technical regulations by a year to 2022. The postponement will decrease the financial burden on the teams. "All parties further discussed the current situation of the 2020 championship and how the sport will react to the ongoing challenges caused by the COVID-19 pandemic. 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, and discussions remain ongoing between the FIA, Formula 1 and all teams regarding further ways to make significant cost savings."
The authorities also announced that the Dutch and Spanish Grand Prix have been postponed and the Monaco Grand Prix cancelled due to the global spread of the coronavirus.
A statement read, "Formula 1, the FIA and the three promoters have taken these decisions in order to ensure the health and safety of the travelling staff, championship participants and fans, which remains our primary concern. Formula 1 and the FIA continue to work closely with affected promoters and local authorities to monitor the situation and take the appropriate amount of time to study the viability of potential alternative dates for each Grand Prix later in the year should the situation improve."
The developments mean that the 2020 season of the racing is will begin only in June. So far, the Australian and the Monaco GP have been cancelled with Bahrain, Vietnam, Chinese, Dutch and Spanish GPs being postponed. The next possible race will be Azerbaijan Grand Prix on June 7.
Globally, around 10,000 people have died due to Coronavirus, with the epicentre being China. The virus has infected around 2,45,000 people globally and has now spread to North America, South America, Europe, New Zealand, and more than 100 other countries.