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The plan to fix F1's biggest flaw

The deals that bind Formula 1's teams have been criticised for a long time. A new owner offered an opportunity to rectify that - and it looks like the process of fixing F1's biggest problem is under way

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.