Following an announcement by the FIA, it has been confirmed that a new Concorde Agreement has been signed by Formula 1, the governing body and all 11 teams.
Earlier today, F1, along with the governing body of world motorsport, the FIA, confirmed the Concorde Agreement, covering 2026 through to 2030, has been agreed.
Introduced in 1981, the Concorde Agreement acts as a binding covenant between the F1, the commercial rights holder of the sport, the competing constructors and the FIA.
In March, the FOM and all 11 teams, including newcomers Cadillac and Audi, which has taken over the Sauber outfit, had put pen to paper on the Concorde Agreement.
Now, with the FIA electing Mohammed Ben Sulayem as its president for a second consecutive term, the governing body has also granted its accord to the terms of the latest deal.
“Today is an important day for Formula 1. As we celebrate 75 years of this incredible sport, we are proud to write the next chapter in our long and amazing history,” said F1 CEO Stefano Domenicali.
“This agreement ensures that Formula 1 is in the best possible position to continue to grow around the world.
“I want to thank the President of the FIA, Mohammed Ben Sulayem, and all the teams for the collaboration and determination to achieve the best results for the entire sport in our discussions.
“We have a huge amount to be proud of, but we also are focused on the opportunities and exciting potential for Formula 1 in the years ahead.”
What is the Concorde Agreement?
While the terms of the Concorde Agreement have always been shrouded by secrecy, it is known that the agreement deals with the financial nitty-grities and the overall governance of F1.
For instance, it protects the teams with stability in terms of regulation changes, mandates a basic fee that a new team has to pay the existing Constructors on the grid and assigns bonuses to teams based on their longevity and success on track.
Most importantly, though, it locks down the teams to participate in each and every round of the championship – something that has become crucial since the sport’s popularity and TV rights valuations have skyrocketed.
“The ninth Concorde Agreement secures the FIA Formula One World Championship’s long-term future and I am proud of the dedication that has been invested in this process,” added Ben Sulayem.
“I would like to thank Stefano Domenicali and his team in what has been a strong collaboration, building a framework grounded in fairness, stability, and shared ambition.
“This agreement allows us to continue modernising our regulatory, technological, and operational capabilities, including supporting our race directors, officials, and the thousands of volunteers whose expertise underpin every race. We are ensuring that Formula 1 remains at the forefront of technological innovation, setting new standards in global sport.”
READ MORE – Mohammed Ben Sulayem to serve second term as FIA president
Discussion about this post