Formula 1 boss Bernie Ecclestone reveals that the 2013-2020 Concorde Agreement, the contract that binds the teams.
Ecclestone’s commercial rights holders and the governing FIA to the sport, is agreed in all its commercial elements. Even Mercedes, who had threatened to walk out on Formula One if they did not receive a larger slice of money, are on side.
‘Total agreement,’ he told dailymail. ‘We are just talking to the lawyers -“why have you used this word, that word”. Typical lawyers but everything’s fine. Commercially it’s done.
‘Now what we’ve got to do is look at how the technical regulations are made. It should be the teams, though not all the teams, who do that.”
“ They are the people who have to come up with the money, not the FIA. It would be the established teams who are here to stay – Ferrari, McLaren, Red Bull, Mercedes and probably Williams as old timers – deciding what to do.’
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