After the announcement of Stefano Domenicali‘s renewal, with an official press release, the organizers announce the signing of the new version of the Concorde Agreement by the 10 F1 teams. The previous version would have expired at the end of this season. In the press release, F1 thanks all the teams for their commitment in continually raising the level of the sport.
What is the Concorde Agreement?
The Concorde Agreement governs the interactions between F1, the FIA, and the FOM (holder of the commercial rights of Formula 1, owned by Liberty Media). Teams are required to sign this agreement, which establishes the economic and regulatory conditions of the championship. This agreement determines how F1 revenues are distributed among the various parties involved, as well as defining the fundamental rules of the competition and the organizational framework that the teams must respect. The Concorde Agreement is usually renewed every few years and is crucial for ensuring the stability of the championship. The name comes from the location where it was originally signed, Place de la Concorde in Paris.
Formula 1 ensures long-term commercial strength
Although the section defining the internal powers of F1 has not yet been signed, the Concorde Agreement guarantees F1 long-term commercial stability. Investors, as also stated in the official press release, have seen exponential growth and positive benefits from these agreements. Therefore, Formula 1 has never been in such a strong position commercially.
Cadillac, the new F1 team starting in 2026, has also signed the Concorde Agreement
Cadillac, which will be the eleventh team on the grid starting next year, has had to regularly sign the Concorde Agreement as it will be in effect from 2026.
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