Chase Carey has admitted F1's engines will not change significantly for 2021.

Earlier, Liberty Media wanted drastically different engines compared to the complex, controversial and quiet 'power units' of today.

But those currently on the grid hit back at those plans, insisting that if no other car manufacturers join them in F1, switching would simply be a waste of money and a step backwards for the progressive sport.

"As we got into discussions, I think we all came to an agreement that the right path was more stabilising the existing engine," F1 chief executive Carey said.

He said a "series of sporting and technical regulations" will then spice up the action and the problems of high costs.

"Some of those regulations are still evolving," Carey continued. "I think right now we're on a pretty good path.

"Early on we agreed on simpler, cheaper, louder, more power, let the drivers drive. As we went through we felt it was best to stabilise the existing engine and then achieve our objectives through those (other) regulations," he said.

Carey said that by keeping the current engines basically the same into 2021 and beyond, F1 will also avoid the "unintended consequences of a new engine".