`F1 has a rich history and our mission is to preserve and develop the sport of speed, by exploring its potential,` said CEO and chairman of Liberty Media – Chase Carey.

Competitive and attractive are two important keywords from Carey’s statement.

F1 races will be more intense from 2021. Photo: Formula1.

In June 2019, Ross Brawn – F1 technical director – spoke about their strategy for the next two years.

But, some costs such as engines, travel, marketing or racer salaries do not need to be included in the calculation threshold.

`Changes could cause thousands of people to lose their jobs,` Christian Horner – Red Bull manager – told the BBC.

Mercedes showed support for Liberty’s proposal.

Most of the costs of F1 racing teams lie in salaries and allowances for employees.

Cases of drivers dominating F1 like Lewis Hamilton now will be rarer in the future.

Revenue distribution must also be more equitable.

10 years ago, F1 had six engine suppliers: Mercedes, Ferrari, BMW, Renault, Toyota and BMW.

Liberty wants to split the bonus among engine suppliers.

Another plan to attract engine manufacturers back to F1 is to improve the power unit (PU).

`We are living in the era of machine technology. But, they are too expensive and not suitable for racing. I want to see a more balanced race between drivers, helping to bring more emotions,`

The power bank innovation was supported by all four engine suppliers.

One of the controversial adjustments to ERS is the abolition of heat recovery units (MGU-H).

The most complicated aspect is the change in technical regulations.

Brawn also revealed that ground effect will have a greater impact to create downforce.

The wheels are larger, and the wheelbase will be smaller.

Simulation of F1 in the 2021 season. Photo: Formula1.

Besides vehicle and engine improvements, Liberty also aims for fairness for racers.

Liberty wants racers to handle situations that arise themselves, such as overheating engines or worn tires, instead of receiving help from the racing team via radio.

Liberty also aims for new routes that are more impressive to the audience.

To put new philosophies into practice soon, Liberty also aims for a minimalist management mechanism for F1.

There are many organizations influencing Liberty’s new strategy, such as the FIA, racing teams or racing drivers’ associations.