Concorde Agreement Formel 1

The Concorde agreement is a contract between the International Automobile Federation (FIA), the Formula 1 teams and the Formula 1 group, which imposes the conditions under which the teams participate in the races and the sharing of television revenues and price. There were indeed eight separate agreements, all top secret: the first in 1981, the other in 1987, 1992, 1997, 1998, 2009, 2013 and the current agreement for 2021. However, the secret was broken by the famous race journalist Forrest Bond when the publication of the 120 page 1997 Concorde Agreement by RaceFax in late 2005. [1] “We are pleased to have reached an agreement between the 10 teams by August on plans for the long-term future of our sport,” said Chase Carey, F1 CEO. “All our fans want more races, bike action and every team has a chance to get stormed on the podium. On January 19, 2005, Ferrari announced that it had signed an extension of the previous contract, which expires on December 31, 2012. [4] On July 18, 2005, Red Bull also signed an extension[5] and Jordan/Midland two days later. [6] On December 7, 2005, Williams was the fourth team to sign a contract extension. [7] On March 27, 2006, the five teams supported by the Grand Prix Manufacturers Association – BMW Sauber, Renault, Honda, McLaren and Toyota – submitted their bids for the 2008 season and agreed to remain in the sport until 2012. [8] [9] On May 14, 2006, the five TEAMS supported by the GPMA signed a Memorandum of Understanding with commercial rights holders (CVC/Ecclestone) that served as the basis for the following agreement.

[10] As a result, there was no complete agreement for the 2008 season, as the memorandum, extensions and agreements with the other teams served as a stop.” The terms of the contract remain largely confidential, although the known provisions required the signatory teams to show up and show up at each race, guaranteeing their right to do so in order to assure the public of the newly acquired television of the sport that they would have a race to watch. In addition, perhaps most importantly, the agreement grants ECA the right to televise Formula 1 races – this right has been “leased” to Formula 1 Promotions and Administration, a company founded and owned by Bernie Ecclestone. Another important element was the stability of the rules, which is described as protecting teams from “the whims of the governing body”. [2] Such an agreement at present speculate that some teams, such as Mercedes, could not stay upright. Disagreements between the two organizations, known as fiSA-FOCA, led to the cancellation of several races. Goodyear threatened to withdraw completely from Formula 1, an event that would have been commercially disastrous for the sport, and ecclestone organized a meeting of team leaders, Balestre and other FISA representatives in the FIA offices, Place de la Concorde, Paris, France. On 19 January 1981, all parties present signed, after thirteen hours of negotiations, the first Concorde agreement, named after the Paris Square where the talks were held. “The agreement is an important step in the development of Formula 1 and also represents an important opportunity for Williams to resume our journey back to the top of the pack,” said Claire Williams, the school`s assistant principal.