GPWC bid to terminate Concorde Agreement
Lawyers representing GPWC, the would-be promoter of the projected Grand Prix World Championship, are investigating whether it might be possible to achieve early termination of the Concorde Agreement, reports German website auto.t-online.de. The current agreement, which is the basis of all the F1 business arrangements, runs until the end of 2007. It is believed to be impossible to break without the agreements of all the parties involved
The five European motor manufacturers that form GPWC, which is being represented by Denton Hall, want greater control over the commercial rights of F1, and a bigger share of the TV revenues. However Formula One Management CEO Bernie Ecclestone does not believe that the manufacturers (and the teams with which they are involved) will achieve their financial objectives outside of the current F1 business structure. "The TV stations and the organisers will force down prices for each new business partner," Ecclestone said. "This would mean a loss of at least 50 percent. Even if the teams got 100 percent of that, they would be in a worse position than they are now."
Share Or Save This Story
Why quirky Montreal will remain F1's true North American gem
Why the real F1 pecking order won't be seen until Barcelona at the earliest
MotoGP considers reducing riders to one bike from 2027
Top five roles on Motorsport Jobs this week
Subscribe and access Autosport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
Top Comments