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F1 delays deadline for teams

FORMULA 1 has delayed the first of two deadlines for teams to sign up to be part of the championship from 2021.

Teams were in line to receive a bonus if they committed to F1 by 12 August, but that deadline has been moved back six days to allow time for more talks.

F1 said: “We have received some final small legal comments that are being considered so the early sign-on deadline has been moved to 18 August.”

The final deadline for teams to commit remains the end of the month.

Ferrari, McLaren and Williams said at the 70th Anniversary Grand Prix last weekend that they were ready to commit to the next contractual period from 2021-25 on the terms currently on offer.

However, Mercedes have made it clear there are still some outstanding issues it wants to resolve before it will sign up.

F1 has restructured the sport so that there will be a more equitable split in prize money between the teams. That will reduce the huge disparity between the big teams and less successful ones – created by former chief executive Bernie Ecclestone in the current contracts, which were negotiated in 2011.

Mercedes F1 boss Toto Wolff said last Friday that the company had “legal, commercial and sporting issues” with the new contracts. – bbc.com