AGENCIES, London: First it was postponed, and given the fact that in Europe, the COVID-19 pandemic shows no sign of abating, the 2020 Monaco GP race has now been cancelled by the Automobile Club de Monaco (ACM) officially. Further, to ease the financial burden on participating teams, F1 organisers have also deferred the introduction of new technical regulations to 2022.
For the first time since 1954, the Monaco GP, one of the most iconic, most challenging and beloved rounds of the Formula 1 championship, will not be a part of this year’s season after the cancellation of the street race. ACM added that ‘under no circumstances will it be possible to organise these events later this year.’
The 2020 F1 race calendar has drawn a lot of blanks this year with two of the first seven rounds of the championship stand cancelled (Australian GP & Monaco GP) while the remaining five have been postponed indefinitely (the Bahrain GP, Vietnam GP, China GP, Dutch GP & the Spanish GP).
Should the global pandemic situation improve in coming weeks then there’s a possibility that F1 races could resume in
in June with the Azerbaijan Grand Prix.
On the organisational front both Formula 1, the FIA and all the participating teams have unanimously come to the decision of deferring the implementation of the new technical regulations to 2022. It was scheduled to be introduced from the 2021 season, but the decision has been taken to ease the financial stress on all teams as the reduced number races also mean reduced incomes for all stakeholders alike.
The new technical regulations call for some major aerodynamic and chassis upgrades in order to make the racing more close and competitive. This relaxation means that all teams will carry over the 2020 chassis design into 2021 season.
However, it will be a challenging affair for teams like McLaren, who are set to switch from Renault to Mercedes engines from next year. McLaren will have to shoehorn the new engines into the old chassis which could prove to be a daunting exercise.
Meanwhile, the new financial regulations will not be delayed (which call for budget caps on all teams to level out the playing field) and will come into effect from 2021. According to the new rules, each team will have to adhere to a budget cap of $175 million per year (on the expenditure related to car performance – excludes marketing costs, the salaries of drivers, and of the top three personnel at any team).