Team principals will be very busy ahead of the next Formula 1 season: not only is the driver market very open, but there is also a need to negotiate the new terms of the Concord Agreement. The latter is an agreement between the teams, FIA, and FOM, mainly of a commercial and economic nature; the current version will expire in 2025.
As reported by British Formula One journalist Joe Saward, it is possible that most of the points will remain unchanged, except one. Scuderia Ferrari, in fact, enjoys an extra revenue at the end of each season, as it is the only constructor to have participated in every Formula 1 season. Estimates speak of 5% of the total prize money that Liberty Media shares with the teams. It changes every year: for example, in 2023 it was $50 million. However, for rivals, this bonus is absurd and unjustified, considering the Maranello team’s strength and its ability to earn through sponsors and merchandising thanks to its heritage. Therefore, the majority of other teams would like to abolish this situation or reduce the prize by half.
It is difficult to imagine this situation becoming a reality, given that Ferrari itself has the right to veto: if everyone agrees on the issue but the Scuderia does not, the agreement falls through (the veto right is also due to its historical significance). The details of the Concord Agreement are never revealed, but perhaps there will be some more information on this matter in the coming months.
Show your support for Scuderia Ferrari with official merchandise collection! Click here to enter the F1 online Store and shop securely! And also get your F1 tickets for every race with VIP hospitality and unparalleled insider access. Click here for the best offers to support Charles and Carlos from the track!
Leave a Reply