[Skam85]

Excellent thread. I can see this going over many pages.
Okay, I'll give it a go.

Points system:
- This is fine in its current guise. Keep the top 10, it rewards the winners, and mediocrity shouldn't be rewarded. Getting points for finishing 14th in a dog of a car is the equivalent of the 21st Century, millennial "participation award" blight.
- Finishing in the points shouldn't be replaced by 'finishing, therefore points'.

Penalty/stewards:
- Two stewards, on a permanent basis. Subject matter experts on the rules and regulations of Formula One. This can be former drivers, sure, that's okay, it also doesn't have to necessarily be someone who has driven in Formula One previously. The most important thing, is this is a full-time role, for every race on the calendar.

- Four levels of offence and subsequent penalties - let's keep this nice and simple. Name them whatever you like, but something like Minor, Medium, Severe, Deliberate etc etc, or even simply Level 1-5. Reprimands for very minor things to stay in place. Reprimands to be on a three-strike basis. Third reprimand incurs a 5-place grid drop.

- Penalties would be as follows:
Level 1 (lowest to highest). Drive through penalty to be served within 5 laps. If in the final five laps, a 5-sec penalty is to be placed onto the driver's finishing time. If this occurs in quali (such as impeding) - 1sec is to be added to the driver's fastest qualifying time.
Level 2. 10 second time penalty, to be served in the pits or after the race.
Level 3. 10 place grid drop for the next race.
Level 4. Disqualification from the event, with post-race determination on whether past behaviour or severity of the incident justifies a race ban.

Aerodynamic and engine regulations
- a working group of current and former F1 figures are to convene and work out the best course of action with regards to aero on a rolling basis. Team bosses are not to be involved in any way, however engineers and technical directors are permitted - one per team on the grid, all with equal say. These meetings are to be strictly confidential, with the risk of being shut out completely should there be leaks. Hopefully this removes the 'agenda' factor.

- Engines are to be made available for customers at a markup rate of 50% of the cost of production. For instance, if the engines cost $5m to make - they are capped for customers at $7.5m. Engines are also to be provided to no more than three customer teams. Gearboxes are bound by the same regulations.

- Engine regulations are to be frozen for a minimum of 5 years. This isn't my area of expertise, but remove the turbos, the MGU-s, the ICE and have them normally aspirated V8s.

- There are to be 8 engines per season, with no limit on when these are used. A new engine after qualifying can be used but this is from the pool of engines and if it fails, then you are one engine down. Once the pool of 8 is exhausted, time penalties will apply pre or post-qualifying. The first engine is a 1sec penalty, the second 2secs, and so on.

Tyres
- there is to be a tender for tyres every five years. Two tyre manufacturers are required at least, and are required to source a minimum of five teams. These teams are locked into a contract with the tyre supplier for a minimum of two years.

- Three dry tyre compounds will be made available at each weekend, with a total pool of 12 sets. Two compounds still must be used in the race.

Qualifying and Parc Ferme
- Qualifying knockout sessions to stay in place in its current guise.

- Teams can change their cars post-qualifying, with no parc ferme rules in place. The only proviso to this is that the curfew rules will still apply, with three curfew 'jokers' per season in place.

Money and budget
- There is to be a 'soft' budget cap of $200m, not including driver salaries.

- Should a team exceed this cap, then a tax on their spending over this amount will be put toward a pool of money to be distributed to the other teams based on their finishing position in the championship. The moment a team goes over this soft cap, they are ineligible for money from this pool. For Instance, Mercedes spend $50m over their cap, they must pay a 10% tax into the pool of $5m. Ferrari and Red Bull also do the same, leaving a pool of $15m to be distributed to the remaining seven teams (hopefully more once my F1 comes into play!). This will also allow new teams committed to a budget cap to be eligible for return money from the end of their first season.

- 70% of the total prize money is to be distributed based on the top 10 of the constructor's championship positions. (1st - 23%, 2nd - 17%, 3rd - 13%, 4th - 12%, 5th - 10%, 6th - 8%, 7th - 6%, 8th - 5%, 9th - 4%, 10th - 2%). Any new teams are eligible for this prize money.

- 20% of the total prize money is to be distributed to the driver's based on the top 10 of the driver's championship, in the same structure as above.

- the remaining 10% is a historical reward fund, to be distributed to teams who have been in the championship for 20 years or more - currently eligible is Ferrari, McLaren, Williams and Sauber. More weighting for these funds are on the oldest teams, such as Ferrari.

Testing
- There are no restrictions on in-season testing, but any financial outlay goes toward the soft budget cap. Teams are also limited to two 'test' engines which must have no more than three upgrades fitted to the current spec engine.

- Pre-season testing will be 2 x 3 day events, and are exempt from the soft budget cap.

I'm sure I'll think of more - however the main point of these above points is to simplify the rules and requirements, and encourage new entries.