StartseiteF1 Concorde Agreement Details

A new trade deal to reduce financial inequalities between teams, create a level playing field and close the price performance gap is the next part of this process. Ferrari, McLaren and Williams announced on Tuesday their support for the revised race conditions, with the other seven manufacturers now following. The agreement aims to achieve fairer price sharing. The new agreement is a big step in the right direction for healthier sport, and while the teams are all contributing to it, Liberty deserves real recognition for the opportunity to do so. On 29 July 2008, the ten teams currently present created the Formula One Team Association (FOTA) to negotiate the terms of the contract. Following a dispute between FOTA and the FIA in the first half of 2009, a new Concorde contract was signed by Mosley and all the teams, although Sauber, in transition as the majority owner of BMW, announced shortly before his intention to retire from the sport at the end of the season, waiting for a majority stake in the team to be returned to Peter Sauber, before he signs. The new agreement provides for the continuation of the provisions of the 1998 agreement and will continue until 31 December 2012. At the same meeting of the FIA World Motor Sport Council, a resource limitation programme was also agreed, as well as revised sporting and technical regulations for the 2010 season. [11] Differences of opinion between the two organizations known as the FISA-BAZL war resulted in the cancellation of several races.