F1 CEO admits all teams will be 'more or less unhappy' with 2021 rules

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Formula 1 CEO Chase Carey claims all teams will likely be left "unhappy" with the final regulations for 2021.

Talks are entering a crucial stage with an initial deadline coming at the end of June, however, expectations are it will be several months yet before any kind of agreement is reached.

The issue, Carey admits, is that with F1's owners wanting to introduce some pretty radical changes, such as budget caps and standard parts, finding a perfect solution is unlikely.

“We are making progress in the negotiations,” he told La Presse ahead of the Canadian GP.

“I think we have laid the groundwork for what we were looking for, and there are already a number of things that have been settled, with the technical regulations in particular.

"That said, there are still major disagreements between the teams, there are 10 teams and each one has a different position to the others.

“It’s impossible to make all of them happy and it’s even likely that they will all be more or less unhappy at the end of the process. The idea is to find the best compromise.”

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It isn't just the sporting aspect which Carey and Liberty is having to deal with either, with shaping the future F1 calendar another area where disagreements rage.

Race promoters are trying to get better deals after years of loss-making under Bernie Ecclestone, while the Americans are looking to expand to markets new and old.

"I think it’s important to have a little novelty in our calendar, but we do not want to mess things up every year,” the CEO commented.

“We are proud to have lasting relationships with many promoters and the goal is to build long-term partnerships.

“As for the number of Grands Prix, we will take our time before increasing that. If we have two new events next season, the number of events will remain stable.”