Parry-Jones presses for new Concorde Agreement
Ford VP and GPWC director Richard Parry-Jones has repeated his concern over cost escalation in F1, and is pressing for an immediate review of the Concorde Agreement to remove the current requirement for unanimous agreement over the introduction of new regulations. "One of the reasons we formed GPWC was to gain agreement about the right kinds of measures needed to control costs," he told Motorsport News. "We've got to have a collaborative effort
"It's impossible for teams, manufacturers, circuit owners or the FOA to do this individually. At the moment, unless you have a unanimous agreement, then nothing changes. Maybe that has to change.
"Most people accept that the present rate of cost escalation cannot be sustained. F1 is going to have to learn how to put on a spectacle while using less of the consumer's money. Those reforms are going to be very difficult to bring about - but if they're not, then we're facing a situation where revenue will not match costs, and the value of the sport to its various commercial investors will no longer seem attractive."
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