F1 giants Ferrari back 2021 changes

AUSTIN, Texas: Ferrari team chief Mattia Binotto on Friday explained why the Italian scuderia had chosen to back Formula One’s radical new regulations package for 2021 and beyond.The package, including an annual budget cap, was approved unanimously by the FIA’s World Motor Sports Council on Thursday with Ferrari making clear they had decided not to use their exclusive veto to block them.Speaking to reporters at a news conference at the United States Grand Prix at the Circuit of the Americas, Binotto talked of Ferrari’s wish to be part of the collaborative effort to join with the sport’s American commercial rights owners Liberty Media and ruling body the International Motoring Federation (FIA).The package was also approved of by most other teams, without much complaint, but with Binotto adding that he and Ferrari still believed there is much more to do.

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