As we wait... and wait... for the first leaks, far less outbursts, following Tuesday's Strategy Group meeting at which F1 bosses were due to reveal their initial proposals for a budget cap, Chase Carey has been talking to investors in Liberty Media about how he sees the sport going forward.

"There's a lot we can do to improve the competition, improve the action on the track, and at the same time make it a much better business for both us and the teams," he said.

"There are a number of components," he continued, "one of them is cost. Right now there are teams that spend amounts that don't realistically make sense. Realistically, the spending doesn't improve the value for fans.

"We've got engines that are too complicated and expensive and therefore create too wide a difference in performance on the track. We want the cars to be unique, we want the cars to take advantage of state of the art technology but we want the competition on the track to be great.

"If we can tackle these issues like costs, the engine, revenue distribution and things like aerodynamics where the cars are not built for passing... we've got to pursue an initiative that passing is action. We've got to make it so that we create a more exciting and dramatic sport on the track.

"All of those things, at the end of the day, will create a much better consumer experience; you want sports to be dramatic and underdogs to have a chance to win and have unexpected results. I think we can create that whilst having each team have a unique car that really is at the pinnacle of motor sports.

"At the same time, I think that will create a business model that will, first and foremost, be beneficial to the existing teams but with a healthier business model would also entice new teams.

"Today, when people who are on the outside look in, they look at the challenges of the sport, what the top teams are spending and that's a deterrent. Then they look at the competition on the track, which currently ends up with about six cars competing at one level and the rest at a different level because of the spending differences, the engine differences.

"If you enhance the competition and create a cost structure that gave more predictability to the business, in some ways like cost caps in the US, protect them from themselves. Competitive spirit overtakes and you spend what it takes to win. So you create a structure that makes it about how well you spend your money not how much you spend.

"That will create a better product for fans, a better model for existing partners and a much more interesting proposition for potential new entrants... we obviously engage with some of these new entrants and it's pretty clear the appeal of F1 is unique, the benefits they get out of identification with it, if we can make it a better business, a better sport, for fans and everybody in it, it will benefit us all."

All that's needed now is to see how he and his team intend bringing this about, and how the teams react, especially the bit about what they can spend and how they can spend it... not to mention the fact that for the likes of Mercedes, Ferrari and a couple of others there will be a smaller slice of the prize pot and an end to those historic bonuses.

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READERS COMMENTS

1. Posted by Rhaycen, 10/11/2017 20:36

"Getting competitive racing is fairly simple, just create a basic rule-set and then don't change that rule-set for about 10 years. Even if 1 team or 1 engine is better at first, over the period of a few years things will likely get much closer to each other.

Constant changes to the rules make things expensive and give a huge competitive edge to wealthier manufacturers. "

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2. Posted by imejl99, 10/11/2017 11:44

"Regarding overtaking, there is one ( 1, like single one) memorable that won`t fade away never, Spa 2000 3 way overtake.

Then there were memorable races, like Montreal 2011 4 hour race, or Magny Cours 2004 with Schumacher making 4 pit stops to win, or Senna crashes out of Monaco 1988. The there were rivalries, Senna -Prost, Schumacher - Hill, Schumacher - Hakkinen, Prost - Mansell ... Then there were team-car-driver setups, like Mansell/Williams/Renault, Senna/McLaren/Honda, Schumacher/Ferrari, Schumacher/Benetton/Renault, Hakkinen/McLaren/Mercedes. Then men of the teams, Ross Brawn, Adrian Newey, Paddy Lowe, Sir Patrick Head, Ron Dennis, Sir Frank Williams, Flavio Briatore, Enzo Ferrari...

Everyone of us remembers something different. I believe very few remembers overtaking from some random race.

It is whole package. It always was. Even in the times when Michelin and Bridgestone were fighting on track."

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3. Posted by Motorsport-fan, 10/11/2017 9:41

"One interview he is saying he does not want 20 identical cars racing, next interview he is basically saying he does?"

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4. Posted by FormerF1Fan, 10/11/2017 9:03

"What he really means is something similar to: "There's a lot we can do to improve the competition to make it more North American, so that there will be fridge stops every ten minutes just like basketball. Then we will see a lot more fans with big donkeys that American fans will more easily relate to.""

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Carey: There's a lot we can do to improve the competition

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