Formula 1 teams will see the final format of the sport's 2021 engine rules by the end of next month, a deadline promised by FIA president Jean Todt in a meeting which took place on Friday between Liberty Media, the governing body and the teams.
Various topics were on the agenda in Monaco, ranging from engine regulations to the sport's future governance, and included discussions on an all-important budget cap.
Regarding F1's future power units, all engine manufacturers finally agreed to drop the controversial and expensive MGU-H component from the future regulations platform.
Mercedes and Renault were among those who resisted the change but it will ultimately come into effect.
"We have given up on some of the standpoints," said Toto Wolff, as reported by Racefans.net.
"We have accepted to lose the MGU-H. We think [dropping] the technology is a step backwards.
"But in terms of achieving compromise for the benefit of the spectacle the H going [means] the revs going up, the fuel limitations going, I think we will have a louder engine, [and] we will not be limited by fuel.
"It’s not the most sustainable message we’re sending out, but we can understand it from a spectacle standpoint. It is something you need to consider and accept."
Teams have been pressing Formula 1 and the FIA for final clarity on the engine regulations, and McLaren boss Zak Brown now hopes a definitive timeline featuring the sport's governance, financial and sporting changes for 2021 will also soon emerge.
"Now I think all the teams are anxious to see not only the engine regulations put in place but the balance of the governance, the economics, the sporting, to follow quickly, because we all need to adapt quickly to what will clearly be a new Formula 1 in 2021."
Teams have accepted the concept of a budget cap for F1 in the future, the level of which is expected to be around $150 million. However, Mercedes boss Toto Wolff insisted the cap's implementation follow a gradual process.
"This was a very good point," said Wolff. "It needs to go over several years, and it needs to consider the various structures that are being put in place. They are taking our feedback onboard."
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One worry surrounding a reduction of resources is the impact a budget cap may have on employment within the F1 community, with teams reducing their headcount to meet expenditures , thus putting hundreds of jobs at risk.
However, considering a budget cap as a process rather than an event would allow for a progressive reduction of staff figures from 2021.
F1 sporting boss Ross Brawn believes smaller, under-funded teams like Sauber, Toro Rosso or Force India could actually boost their headcount numbers thanks to a $150 million budget cap and take in redundant personnel and employees from bigger teams.
McLaren's Zak Brown also suggested that excessive staff could be redeployed to other race programmes currently contemplated by the Woking-based outfit such as IndyCar and the WEC series.
"We're a nimble racing team, a large organisation, and we will be well suited to react to whatever rules are implemented," said Brown.
"But that's why we want to know sooner rather than later so we can start making the right plans."
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