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F1 teams committed the new Concorde Agreement

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Formula One commercial right holder Bernie Ecclestone has publicized that ‘majority’ of teams have committed to the sport beyond 2012. New report issued on his official F1 site, Ecclestone said that a number of teams including Ferrari, McLaren and Red Bull Racing had agreed to a new Concorde Agreement.

“I am very pleased to announce that we have reached commercial agreements with the majority of the current Formula One teams, including Ferrari, McLaren and Red Bull Racing, about the terms on which they will continue competing in Formula One after the current Concorde Agreement expires at the end of this year.” Bernie said

Mercedes rejects to comment on proposal that it had not agreed to sign the new deal.

Stefano Domenicali, Ferrari team Principal told Autosport in last week: “I think that what I can say is that we are in discussions, and the discussions are going on in the right way. But there is no more than that at the moment.”

Red Bull team Principal Christian Horner said: “We are in discussion about a future Concorde Agreement. We want to have a Concorde Agreement that reaches into the future and we are in discussion with FOM at the moment. Talks have been progressing reasonably well, so we will see.”


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