Formula 1 bosses have made a final offer to teams of a sliding scale budget cap reducing from $145m to $130m over the next three years. read more »

Good news for McLaren and others wanting a lower budget cap, Ferrari has reportedly agreed to lowering the cap to $130m but only in 2023. read more »

Formula 1 teams and bosses are to meet next week to discuss a proposal to reduce the sport's budget cap to $130m (£104.6m) by 2022. read more »