Since the early 1980s Formula 1 has been governed by a series of Cons - not of the illegal variety, we hastily add, although more than a few team owners, promoters, broadcasters and advertisers admit to have been taken in by smooth patter during this time. F1's governing Cons are better known as Concorde Agreements, and, more latterly, Bilateral Contracts, in turn supplemented by Concorde Implementation Agreements.
However, the word at Barcelona during the weekend was that the concept of time-bound covenants, whether composite (as during the early days), trilateral (1998-2012) or bilateral (2013-present), would be ditched by the Formula One Group's owner Liberty Media Corporation - and the target date is well before their expiry at end-2020.
However, the plan is to replace the exist Cons with yet another Con: a Constitution governing F1 going forward. Where "agreement" is defined as a "negotiated and typically legally binding arrangement between parties as to a course of action", "constitution" is defined as a "body of fundamental principles or established precedents according to which a state or other organisation is acknowledged to be governed".