FILE PHOTO: Formula One F1 - British Grand Prix - Silverstone Circuit, Silverstone, Britain - July 14, 2019 Mercedes' Valtteri Bottas leads Mercedes' Lewis Hamilton at the first corner of the race REUTERS/John Sibley/File Photo
LONDON (Reuters) - Formula One's governing body hailed a major step forward on Wednesday after approving a package of cost-cutting measures including a $145 million budget cap from next year.
The measures, rubber-stamped by the FIA's World Motor Sport Council by an online vote, aim to create a more level playing field for the 10 teams and a more sustainable future.
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