Teams set to sign new Concorde

FOTA president Luca di Montezemolo says all the current F1 teams and manufacturers are ready to sign a new Concorde Agreement

Teams set to sign new Concorde

Talks to frame the document that lays out the running of the sport have been ongoing since last year between all the teams and Formula One supremo Bernie Ecclestone.

And with the teams more united than ever, di Montezemolo says the new deal is now very close.

"I haven't got any written confirmation from all the teams or all the car manufacturers," said di Montezemolo during a FOTA press conference on Thursday, "but as you know I have a lot of contact with my colleagues, and I am talking now as the chairman of Fiat, and I want to say that all the car manufacturers are prepared to enter and commit into a new Concorde Agreement until the end of 2012.

"All the actual teams and all the car manufacturers," added the Ferrari chief, who is hopeful the new agreement will be signed before the start of the season.

"We are now in the process, our discussions with the legal department of FOM (are ongoing) to solve the latest problems and we hope and we think that we can be in condition to sign the Concorde Agreement before the start of the season and anyway, anyway we hope before March 18," he said.

Di Montezemolo also downplayed comments from Renault CEO Patrick Pelata that the French squad could quit the sport if the costs were not brought down significantly.

"I think that what he said was exactly what I discussed a few weeks ago with the chairman of Renault," di Montezemolo said. "We totally share that belief that to maintain F1 players it is important to have a good balance between costs and revenues. There is no question about it.

"I think and I repeat that we have appreciated it one year ago when Max Mosley said, listen guys, it is important to look at the costs. We have done a big effort, maintaining the characteristic of F1.

"With the decision that we have taken for 2010, Renault is extremely pleased for the cost and we are committed until the end of 2012 and we have to look ahead to increase the revenues after 2012.

"But even between now and 2012, (we can work) inside the share with the commitment that we have with FOM and working with the FIA, because again here for us it is very important the credibility, the image, the governance of F1 for the future and the present, and this is the effort of FOTA in this direction. I closed my quick speech here saying together, it is important to share the same goals."

Renault team boss Flavio Briatore also dismissed reports that the French manufacturer is looking to leave F1.

"I believe from day one always with Renault I was very worried about the costs," Briatore said. "What happened with FOTA was exactly what Renault wishes would happen to F1. We had the commitment from Mr. (Carlos) Ghosn saying that if the more efficient F1 happens then we will stay until 2012 with everybody.

"Mr. Ghosn gave the confirmation to Luca di Montezemolo our chairman... what Mr. Pelata said is quite normal, we need to have a balance between the income and the expense. What he said in this kind of moment is very normal and I don't think it is very special."

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