F1 teams expect ‘usual’ Concorde Agreement talks
May 24 (GMM) The “usual discussions” surrounding negotiation of a new Concorde Agreement are currently taking place, Christian Horner has revealed. Liberty Media, F1’s commercial rights holder, recently sent out the proposed draft of the new agreement that binds together the teams, the FIA, and Formula 1. The current one expires next year, and some […]
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May 24 (GMM) The “usual discussions” surrounding negotiation of a new Concorde Agreement are currently taking place, Christian Horner has revealed.
Liberty Media, F1’s commercial rights holder, recently sent out the proposed draft of the new agreement that binds together the teams, the FIA, and Formula 1.
The current one expires next year, and some details are now starting to leak out – like a reduced bonus historical payment for Ferrari, and perhaps an increase from $200 million to $600m for potential new entrants like Andretti.
Backed by Cadillac (GM), the Andretti camp remains determined to get up and running for 2026, but 1978 world champion Mario Andretti concedes that the chances are slim.
He told NBC News that he was approached by Liberty Media CEO Greg Maffei recently in Miami.
“He said ‘Mario, I want to tell you that I will do everything in my power to see that Michael never enters Formula 1’,” Andretti claims. “That one really floored me.
“I didn’t know it was something so personal.”
When asked if locking Andretti out of Formula 1 might be part of the Concorde negotiations, Red Bull boss Christian Horner admitted: “I’m sure it will inevitably be a point of contention.
“But sometimes, if it’s not broken, it doesn’t need to be fixed,” he is quoted by formu1a.uno.
The main bone of contention when a new Concorde Agreement is negotiated, however, is always the share of the sport’s income the teams are entitled to.
“It will be the usual discussion – whether the teams want more,” Horner said. “And the promoter wants more. But what we have now works relatively well. I think the basics are all relatively solid.
“As the sport continues to evolve and grow, there will be areas where we can refine the agreement, but I think it’s just about refinement, not revolution,” he added.
Even Mercedes’ Toto Wolff, who is often at odds with Horner, agrees that the basic 2026 agreement is already set.
“I think we have understood the basics of how F1 sees the next five years, and there is some good in that,” said the Austrian.
“There are a number of things we will discuss – pros and cons – and of course there will be negotiations. But in principle we all want to achieve the same goal – to grow the sport.
“That means profits will also grow and when profits grow, both the teams and the sport benefit.”
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