Coronavirus: Formula One cost-cutting measures approved

London, May 28: Formula One's cost-cutting measures have been approved by the FIA amid the coronavirus pandemic.

After a vote of the World Motor Sport Council on Wednesday, the cost cap for 2021 will be lowered from $175million per year to $145m, "with further reductions in the following years".

The 2020 F1 season is yet to get underway due to COVID-19, which has killed more than 356,000 people worldwide.

Also agreed on Wednesday (May 27) was that the lower a team finishes in the constructors' championship, the more wind tunnel time they will be allowed to use to develop their car the following year.

The FIA also approved a measure to limit downforce on the 2021 cars.

Other changes include:

- Several components, including the chassis and gearbox, have been frozen between this year and 2021, with a token system allowed for a very limited number of changes including McLaren's switch to Mercedes power.

- A limitation on the number of upgrades a power unit manufacturer can make over a season, beginning in 2021.

- A minimum weight increase of 3kg to 749kg, from next year.

- Provisions made for "open" and "closed" events this year amid COVID-19 with mass gatherings banned in several countries.