Formula 1 and FIA agree new Concorde plan

Formula 1's stalemate over a new Concorde Agreement appears to be at an end after Bernie Ecclestone and Jean Todt reached agreement over its terms on Saturday

Formula 1 and FIA agree new Concorde plan

After months of stalled discussions, the FIA and Formula One Group issued a statement saying that the two parties had approved a plan to implement the new Concorde.

Their deal sets out the framework for the new deal to be drawn up, with the process set to be completed in the next few weeks.

A press release issued on Saturday said: "The Formula 1 Group and the FIA have signed an agreement setting out the framework for implementation of the 2013 Concorde Agreement.

"This agreement will come into force upon approval by the respective governing bodies of the signatory parties in the coming weeks.

"Further information on this agreement will be available after receipt of such approval."

Ecclestone already has bilateral agreements in place with 10 of F1's teams, laying out the new commercial terms they will be operating under, as well as putting in place a new rule-making process.

This will include the creation of an F1 Strategy Group to help consider new ideas and changes to the regulations.

The only outfit that does not have a commercial deal in place is Marussia.

For the Concorde to be complete, it will need the teams, Ecclestone and the FIA to commit to the deal - a process that should now be a formality over forthcoming weeks.

FIA AND FOM AGREEMENT WAS STICKING POINT

Although Ecclestone was able to secure teams' agreement to a Concorde with relative ease, it was much harder for him and Todt to settle their differences.

Todt has been eager to secure a greater financial contribution for the governing body from F1's profits.

While some of that revenue has come from the teams, through increased entry fees and superlicence costs, there is also understood to be a contribution from the commercial rights holder too.

One of the final sticking points in the talks was the control of the media in F1, with Ecclestone eager for written press and journalists to fall under FOM's control, just as it controls television rights.

This could have led to all media being charged for access to cover F1 - something that Todt is understood to have been against.

The imminent signing of the Concorde comes against the backdrop of Ecclestone being indicted by German prosecutors over allegations of bribery, and Todt facing a potential challenger in the forthcoming FIA presidential elections later this year.

shares
comments
Friday form guide: Red Bull a class apart

Previous article

Friday form guide: Red Bull a class apart

Next article

Bernie Ecclestone sure F1 Concorde Agreement now a formality

Bernie Ecclestone sure F1 Concorde Agreement now a formality
Load comments

About this article

Series Formula 1
Author Jonathan Noble
The 'new' F1 drivers who need to improve at Imola Plus

The 'new' F1 drivers who need to improve at Imola

After a pandemic-hit winter of seat-swapping, F1 kicked off its season with several new faces in town, other drivers adapting to new environments, and one making a much-anticipated comeback. BEN ANDERSON looks at who made the most of their opportunity and who needs to try harder…

The delay that quashed Aston Martin’s last F1 venture Plus

The delay that quashed Aston Martin’s last F1 venture

Aston Martin’s only previous foray into Formula 1 in the late 1950s was a short-lived and unsuccessful affair. But it could have been so different, says NIGEL ROEBUCK

Formula 1
Apr 10, 2021
Verstappen exclusive: Why lack of car-racing titles won't hurt Red Bull's ace Plus

Verstappen exclusive: Why lack of car-racing titles won't hurt Red Bull's ace

Max Verstappen’s star quality in Formula 1 is clear. Now equipped with a Red Bull car that is, right now, the world title favourite and the experience to support his talent, could 2021 be the Dutchman’s year to topple the dominant force of Lewis Hamilton and Mercedes?

Formula 1
Apr 9, 2021
Are we at peak F1 right now? Plus

Are we at peak F1 right now?

For many, many years Formula 1 has strived to do and to be better on all fronts. With close competition, a growing fanbase, a stable political landscape and rules in place to encourage sustainability, 2021 is on course to provide an unexpected peak

Formula 1
Apr 8, 2021
How crucial marginal calls will decide the Red Bull vs Mercedes battle in F1 2021 Plus

How crucial marginal calls will decide the Red Bull vs Mercedes battle in F1 2021

The longer Red Bull can maintain a performance edge over Mercedes, the better the odds will be in the team’s favour against the defending world champions. But as the Bahrain Grand Prix showed, many more factors will be critical in the outcome of the 2021 Formula 1 World Championship

Formula 1
Apr 7, 2021
How Williams’ new structure adheres to a growing F1 trend Plus

How Williams’ new structure adheres to a growing F1 trend

Williams held out against the tide for many years but, as MARK GALLAGHER explains, the age of the owner-manager is long gone

Formula 1
Apr 6, 2021
When a journeyman driver's F1 career lasted just 800m Plus

When a journeyman driver's F1 career lasted just 800m

Nikita Mazepin’s Formula 1 debut at the Bahrain Grand Prix lasted mere corners before he wiped himself out in a shunt, but his financial backing affords him a full season. Back in 1993 though, Marco Apicella was an F1 driver for just 800m before a first corner fracas ended his career. Here’s the story of his very short time at motorsport’s pinnacle

Formula 1
Apr 4, 2021
The nightmare timing that now hinders Mercedes Plus

The nightmare timing that now hinders Mercedes

Mercedes and Lewis Hamilton took victory at the Bahrain Grand Prix despite, for a change, not having the quickest car. But any hopes of developing its W12 to surpass Red Bull's RB16B in terms of outright speed could not have come at a worse time.

Formula 1
Apr 2, 2021