The last Concorde Agreement, the tripartite commercial pact which binds the
teams, the FIA and the commercial rights holder, expired on Dec 31 last
year.
And with Bernie Ecclestone, Formula One’s chief executive, having already
agreed terms with 10 of the 11 teams – only Marussia have been left out in
the cold – the sport has been left in limbo as Ecclestone and FIA president
Jean Todt have thrashed out the terms of their own bilateral agreement.
A brief statement said: “[This] sets out the framework for the new deal to be
drawn up, with the process set to be completed in the next few weeks.
“This agreement will come into force upon approval by the respective
governing bodies of the signatory parties in the coming weeks.”
As ever in F1, there were immediately those questioning the timing of the
statement as well as any possible subtext.
Ecclestone is facing the possibility of a trial in Germany over alleged
bribery, while Todt may have a challenge to his presidency in the form of
FIA Foundation director general David Ward.
Both could do with presenting a calm front and strong leadership. There is
also the possibility that the sport may float on the Singapore stock
exchange at some point.
Ecclestone insisted that there was no subtext. “It’s good. We’re with the FIA,
and that’s it,” he said.
“There have obviously been lots of things we’ve had to sort out. It’s a longer
term thing, and this forms most of the Concorde Agreement for the teams as
well, so we can get the whole lot put to bed now.
“It’s for seven years, and what it does is give a little more input from
the teams which we’ve been fighting for concerning regulations, so they
can’t complain.”
Former Williams
chief executive and chairman Adam Parr, who has been vocal in his calls for
change in F1, was left unimpressed. “One thing worse than the FIA and FOM
fighting is them shaking hands,” he tweeted.
“Shivers down the spine. Who fights for the teams, the fans, the sport?”