Thursday 5 July at 07:35 :
Jul.5 (GMM) F1 is now on the cusp of finalising its rules for 2021.
It is believed a meeting between Liberty Media, the FIA and the ten teams will take place ahead of the British grand prix.
News of that meeting comes after top team bosses admitted their concerns about the extended negotiations over the next set of rules.
"We would like a little more emphasis on the power unit and Red Bull would like more on the chassis, but I think transparency and a clear path is important," Mercedes boss Toto Wolff said.
"We need to know what's happening in 2021 -- what the regs look like on the power unit side and the chassis side in order to get things moving and avoid a last minute cost rush," he added.
"I hope that with the meeting, we have a little bit more understanding and input and then we see where it ends up."
Red Bull's Christian Horner said his biggest concern about the latest talks is that the FIA and Liberty Media might not agree about the shape of the 2021 rules.
"The risk that I see is that we end up with compromises and vanilla-type regulations," he said.
"Liberty have paid $8 billion for this sport, they've got to turn it into something that's even more attractive. But everything seems to be getting watered down from what the initial concept was," said Horner.