“The parties have agreed a strong and stable sporting governance framework
which includes the Formula One Group, the FIA and the participating teams.
“The agreement lays down solid foundations for the further development of the
FIA Formula One World Championship.
“Now that the agreement is operative, the parties will move towards the
conclusion of a multi-party Concorde Agreement.”
The final point refers to the fact all 11 teams now need to be on board as
Ecclestone previously negotiated bi-lateral agreements with 10 of the
marques, with the exception of Marussia who remain in talks.
Todt said: “We can be proud of this agreement, which establishes a more
effective framework for the governance of the FIA Formula One World
Championship.
“The FIA looks forward to continuing to fulfil its historic role as the
guarantor of both regulation and safety in F1 for many years to come.”
Ecclestone added: “I am very pleased that the agreement between the FIA and
the Formula One Group has been concluded”.
(Edited by Giles Mole)