F1 CEO Chase Carey says fans "really can’t follow" the sport’s overly complex rules.
The ten teams have now agreed in principle with the brand new technical and sporting rules for 2021, but are still negotiating new commercial agreements with Liberty Media and the FIA.
"We have got too many complicated penalties and rules," Carey is quoted by the Independent newspaper as having said at a recent investor conference.
"We have got a 100 page regulation book. We have got to get the business to a place where it is easier to follow and has fewer complexities that fans out there really can’t follow," he added, according to F1 business journalist Christian Sylt.
But Carey, who runs the sport on behalf of its owner Liberty, acknowledged that the intrinsic nature of F1 means it will "always" be complex.
Meanwhile, German sources report that teams will have the freedom to pull out of the sport each year once they sign the new 2021-2025 Concorde Agreement.