Scuderia Ferrari has confirmed that it has signed the two elements of the new 2021-25 Concorde Agreement with the Formula 1 organisation and the FIA. The Maranello organisation is the second of the 10 current teams to formally announce that it has signed up, following a statement from McLaren earlier today.
Today is the deadline for early signing of the new deal, with teams guaranteed a financial bonus if they meet it. The final deadline for signing is at the end of the month. All teams are expected to meet the earlier deadline.
Ferrari CEO Louis Camilleri stressed that the new deal brings “stability and growth” to the sport.
“We are pleased to have signed up again to what is commonly known as the Concorde Agreement, which will regulate F1 for the next five years,” said Camilleri. “It is an important step to ensure the stability and growth of the sport. We are very confident that the collaboration with the FIA and Liberty Media can make F1 even more attractive and spectacular, while preserving its status as the ultimate technological challenge. Racing is in Ferrari’s DNA and it is no coincidence that the Scuderia is the only team that has participated in every edition of the FIA Formula One World Championship, becoming an integral and essential part of its success, today as in the past and, above all, in the future.”- the Ferrari CEO explained, as reported by the Maranello team’s official website earlier today.
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