Formula One's 10 teams have agreed cost-cutting measures including a budget cap of US$145 million for 2021, the BBC reported on Friday.
The measures have yet to be approved officially by the governing FIA's World Motor Sport Council, by an e-vote due to the COVID-19 pandemic, but that is seen as a formality and likely next week.Formula One's managing director for motorsport Ross Brawn said this month that the US$145 million figure had been agreed and the sport would look for further reductions in future seasons.
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