F1 agrees to postpone 2021 technical rules by a year 

Formula 1 teams have agreed to delay the planned regulation overhaul for 2021 until 2022 in the wake of the coronavirus pandemic. 

Following a phone conference call on Wednesday involving all 10 teams and F1 chiefs Chase Carey, Ross Brawn and FIA president Jean Todt, it was decided to postpone the introduction of new rules by a year. 

After initial opposition from Ferrari, all 10 teams unanimously agreed to the delay. 

Teams were already facing a tricky task of having to balance development resources for 2020 and 2021 and deciding at which point to shift focus fully on to designing an all-new car for 2021. 

There were concerns about how the lack of races would impact on teams given the expected financial blow a reduced calendar would result in. 

It is hoped that delaying the rules change will help ease the financial strain on all competing teams once the campaign eventually gets underway. 

Costs will be reduced due to keeping unchanged technical rules for 2021, with the chassis being carried over from 2020. A freeze on the development of key components such as gearbox and other mechanical parts is set to be discussed further.

Plans to introduce the first phase of the cost cap have been retained for 2021. 

"Following unanimous agreement between the FIA, Formula 1 and all teams, the implementation of the Technical Regulations due to take effect from the 2021 season will be postponed until 2022," an FIA statement read. 

"All parties further 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 introduction and implementation of the Financial Regulations will go ahead as planned in 2021, and discussions remain ongoing between the FIA, Formula 1 and all teams regarding further ways to make significant cost savings.

"All teams expressed their support for the FIA and Formula 1 in their ongoing efforts to restructure the 2020 calendar as the global situation regarding COVID-19 develops.

"All of these commitments will be referred to the relevant governing structures for final ratification."

The ongoing coronavirus crisis has wreaked havoc on the calendar, with the season start being delayed until June at the earliest after the opening seven rounds were postponed. 

The teams have also agreed to bring forward the summer break from its traditional slot in August to March-April to free up more space for potential races, with a heavily-congested end to the year now expected.