New Concorde Agreement Talks Already Taking Place

F1 Grand Prix Of Monaco
MONTE-CARLO, MONACO - MAY 28: Max Verstappen of the Netherlands driving the (1) Oracle Red Bull Racing RB19 leads the field at the start during the F1 Grand Prix of Monaco at Circuit de Monaco on May 28, 2023 in Monte-Carlo, Monaco. (Photo by Mark Thompson/Getty Images) // Getty Images / Red Bull Content Pool // SI202305280235 // Usage for editorial use only //
F1 Grand Prix Of Monaco
MONTE-CARLO, MONACO - MAY 28: Max Verstappen of the Netherlands driving the (1) Oracle Red Bull Racing RB19 leads the field at the start during the F1 Grand Prix of Monaco at Circuit de Monaco on May 28, 2023 in Monte-Carlo, Monaco. (Photo by Mark Thompson/Getty Images) // Getty Images / Red Bull Content Pool // SI202305280235 // Usage for editorial use only //

The “usual discussions” surrounding the 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.”

Comments

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in News

Los Angeles Premiere Of Sony Pictures' 'bullet Train'

Lights, Camera, Apex: Brad Pitt’s F1 Masterclass Earns Lewis Hamilton’s Seal of Approval

In a thrilling fusion of Hollywood glamour and high-octane racing, ...
Formula 1 Testing In Bahrain Day 3

Tsunoda Would Have Struggled With Verstappen ‘Pressure’

Yuki Tsunoda could struggle to remain in Formula 1 after ...
F1 75 Live Press Conference

Adrian Newey Hasn’t Worked On 2025 Aston Martin At All – Cowell

Adrian Newey is yet to work his fabled magic on ...
F1 Grand Prix Of Australia Previews

Flexi-Wing Clampdown Could Benefit Verstappen – Marko

The mid-season wing flexibility clampdown could actually benefit Max Verstappen ...
Motor Racing Williams Racing Fw47 Launch

Carlos Sainz Admits His Father is “Still Disappointed” He Turned Down Audi

Carlos Sainz admits his father is "still disappointed" the ousted ...

Trending on F1 Chronicle