FILE PHOTO: Formula One F1 - Hungarian Grand Prix - Hungaroring, Budapest, Hungary - August 4, 2019 Mercedes' Lewis Hamilton in action during the race REUTERS/Lisi Niesner/File Photo
LONDON (Reuters) - Formula One's 10 teams have agreed cost-cutting measures including a budget cap of $145 million (119 million pounds) for 2021, the BBC reported on Friday.
The measures have yet to be approved officially by the governing FIA's World Motor Sport Council, by an e-vote due to the COVID-19 pandemic, but that is seen as a formality and likely next week.
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