Formula One has agreed a $145 million budget cap for teams next year and will continue to try and tighten that for future seasons, managing director Ross Brawn said on Monday.
Brawn also said after a teleconference with teams and the governing FIA that a much fairer prize fund would feature in a new commercial agreement due by the end of this year.
"The budget cap initial objectives were a more competitive field and I think with the situation we have now the sustainability, the economic sustainability, of Formula One is a priority," Brawn told Sky Sports.