MARANELLO, ITALY - Significant progress has been made in mapping out Formula One's future, with Ferrari making sacrifices to ensure smaller teams get more of the money, according to chief executive Louis Camilleri.
The sport is preparing for a major shake up in 2021 but, while rules have been agreed, a new commercial 'Concorde Agreement' has yet to be signed between the teams and stakeholders.
"I think there's been significant progress," Camilleri said of talks that have been going on for some years, while also emphasising Ferrari's leadership role as the oldest and most successful team.
"Given our credibility in Formula One we are here to ensure that the sport would retain its fundamental DNA and its ability to continue to innovate.
"On various fronts, not least of which were standardized parts, there's been endless discussions. I think we've reached a relatively good compromise in terms of the cost cap, which today applies to the chassis."