Formula One teams have been warned by the governing FIA not to subvert a budget cap due to be introduced in 2021 by stockpiling parts this year for future use, McLaren boss Zak Brown said on Saturday. The American told reporters that the International Automobile Federation had issued a note to the 10 teams on the subject. They actually issued another statement to the teams overnight on this particular issue,” he added. Teams will have to operate within a $145 million budget cap next year, reduced to $140 million for 2022 and $135 million for 2023-2025. RELATED| All 10 F1 teams sign new Concorde Agreement, committed until 2025Brown also revealed that any new team seeking to enter the championship would now have to pay a $200 million fee, split equally among the existing 10 teams under a new five-year commercial agreement all have signed.

Source: The Hindu September 12, 2020 12:31 UTC