F1 teams have 'reasonable agreement' to further delay regulation changes - Horner

Red Bull team principal Christian Horner has revealed details of a 'reasonable agreement' that teams have made to further postpone the regulation changes for F1 until 2023.

The regulation changes, designed in an attempt to promote closer and fairer racing amongst teams were initially set to be introduced into the sport next year but were delayed by F1 and FIA with the agreement of teams until 2022 in response to the ongoing coronavirus pandemic.

With teams worried about the negative financial impact the postponement of races will have on the sport, the decision was made to use the current chassis for 2021, and introduce the changes the following season.

However, in a recent interview with the BBC, Horner explained that teams have come to a possible agreement to further the delay until the 2023 season.

“We're also talking about pushing back a further year the new regulations, because in my mind it would be totally irresponsible to have the burden of development costs in 2021,” Horner commented.

"There seems to be a reasonable agreement but it needs ratifying by the FIA to push back those development costs into 2022 for introduction in the '23 season.

"The most important thing we need now is stability. Because the one thing we know is that whenever you introduce change you introduce cost, and stability right now and locking down as much of the car as possible is the most responsible way to drive those cost drivers down."

Possible lowering of budget cap could help all teams

Horner also revealed in the interview that there has been a suggestion to lower the budget cap, which is set to enter F1 next season at a cap of $150 million.

Horner explained that all teams are being reasonable in recent discussions and that he believes that a further lowering of the budget cap could help every team on the grid.

"There is a positive and healthy discussion going on among all the teams to be responsible - and it's not just about the cap,” Horner added.

"The cap is a ceiling. It is almost secondary as far as I'm concerned, it is reducing the cost in order to go racing.

“With, let's say, 60% of the chassis frozen for the next 18 months, that will have a dramatic effect on reducing the operational costs of a Grand Prix team, whether that be for Red Bull or Williams.”