F1 adamant new rules will not face further delay until 2023

Formula 1 has dismissed speculation the introduction of new regulations will not be further delayed until 2023.

F1, the FIA and the teams agreed to delay its revolutionary new rules package until next year due to the damaging financial effects of the Covid-19 pandemic.

With the virus still having a major impact on life and businesses globally, especially in light of the new variant that has taken hold, rumours have surfaced about postponing the new rules for a further year until 2023.

That would have resulted in the current cars carrying over for a third season in 2022. F1, however, is adamant there will be no additional hold up.

A spokesperson said: "Any suggestion the 2022 regulations will be delayed is wrong and has not been discussed.

"The new regulations are designed to improve competition on track and give our fans closer racing.

"This, combined with the new financial regulations, will improve F1 and create a healthier and stronger business model for the whole sport."

It means all 10 teams face the difficulty in developing both its 2021 car and its '22 machinery against the ongoing Covid-19 backdrop and the financial uncertainty that brings.

The mitigating factor is the introduction this year of a budget cap, set at $145million, which then drops by $5m next year, with an additional $5m cut for 2023-'25.

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