Formula 1 agrees to defer 2021 technical regulations to 2022

Formula 1 has agreed to delay the introduction of its 2021 rules package until the 2022 season.

The move comes following a teleconference meeting today involving F1 CEO Chase Carey, managing director of motorsports Ross Brawn, FIA president Jean Todt and the 10 team principals.

An FIA statement read: "All parties...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 sensible scenario comes in the wake of the current season being placed on hold due to the coronavirus pandemic, adding to the growing uncertainty as to when - even if - there will be any racing at all this year.

Following the recent cancellation of the Australian Grand Prix, the following six races in Bahrain, Vietnam, China, the Netherlands, Spain and Monaco have now all been postponed, the latter three coming in the latest move on Thursday.

Dutch, Spanish and Monaco Grands Prix all postponedRead more

There was a two-pronged concern for the teams going into the meeting, namely that fewer grands prix means a reduction in revenues; and a heavily congested calendar in the second half of the year would lead to almost unmanageable pressure in trying to complete this season in tandem with producing next term's heavily-revised cars.

A meeting earlier this week involving the team principals had resulted in nine in agreement for a postponement, with only Ferrari abstaining at the time as it wanted to take stock of the ramifications of such a decision.

Following a period of reflection, Ferrari has now decided that for the good of the sport in such troubled times, such a postponement is in the best interests of the sport.

The decision now needs to be formally ratified at the next meeting of the World Motor Sport Council.

This applies to the technical regulations only as plans for the $175million cost cap will still come into force in 2021.

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