5 replies to this topic

[Shi]

Still waiting on the teams to sign, I think

"The FIA has announced that a new Concorde Agreement has been signed by president Max Mosley, heralding a final resolution to the political rows that rocked Formula 1 in the first half of 2009.

A three-way deal between the FIA, the sport's commercial rights holder Bernie Ecclestone and the F1 teams, the Concorde Agreement is the document that sets out how F1 is run and its revenues distributed.

The lack of a new Concorde deal had been a key sticking point during the disagreements between the FIA and the Formula One Teams' Association (FOTA) earlier this season.

"Following approval by the World Motor Sport Council, late last night FIA President Max Mosley signed the 2009 Concorde Agreement, heralding a renewed period of stability for the FIA Formula 1 world championship," said an FIA statement.

"The WMSC has also approved a slightly revised set of stable sporting and technical regulations (to apply from the 2010 championship onwards), which have been agreed by the FIA and the teams and which will be published shortly on the FIA's website.

"The new Concorde Agreement, which runs until 31 December 2012, provides for a continuation of the procedures in the 1998 Concorde Agreement, with decisions taken by working groups and commissions, upon which all teams have voting rights, before going to the WMSC for ratification."

All the teams entered for the 2010 Formula 1 world championship have signed up to the agreement with exception of BMW Sauber.

AUTOSPORT understands that the team has been given a deadline of next Wednesday (5 August) to sign as the German manufacturer decides whether to open the operation up to a potential rescue package following its decision to quit F1 at the end of the season.

The FIA also confirmed that final agreement had been reached on measures for further cost cutting.

"In addition, as agreed in Paris on 24 June 2009, the teams have entered into a resource restriction agreement, which aims to return expenditure to the levels that prevailed in the early 1990s," said the statement.

"With the 2009 Concorde Agreement and the resource restriction agreement in place, the FIA looks forward to a period of stability and prosperity in the FIA Formula 1 world championship.""

[_R_]

Just waiting on BMW Sauber

don't see why they'd wait... BMW pulled out of F1 at the end of this season...

[Shi]

don't see why they'd wait... BMW pulled out of F1 at the end of this season...

Peter Sauber is trying to see if he can save the team Brawn style

[vietlol]

don't see why they'd wait... BMW pulled out of F1 at the end of this season...

fota need to keep its unity and Sauber is trying to save the team

[Shi]

hmm... supposedly the teams haven't signed yet, lol

[_R_]

hmm... supposedly the teams haven't signed yet, lol

The Formula One Teams' Association (FOTA) has hailed the sport's new Concorde Agreement after confirming that negotiations had concluded and that the document now contained signatures of all the teams entered for 2010.

FOTA also stated that it would support any initiative to allow the BMW-Sauber team to sign up at a later date, should the outfit be on the grid in any form next season.

The statement read: "Signed by all Formula One teams, with the only exception of BMW-Sauber AG, the FIA, and Formula One Administration (FOA), Concorde 2009 lays down the commercial and regulatory guidelines for Formula 1 whilst guaranteeing the teams' until the end of the 2012 season.

FOTA will support any initiative which would allow BMW-Sauber AG to reapply for full participation within the new Concorde Agreement."

The German manufacturer has yet to make clear its intentions on the fate of the team however, though it was given a deadline of today to sign up to the agreement.

The statement also indicated that the teams had come to a voluntary accord over how to reduce spending over time in Formula 1.

"All Formula 1 teams have together reached a voluntary agreement on their own, which will put into practice FOTA's long-standing objective gradually to reduce overall spending, eventually to around the levels of the early 1990s," read the statement.

"The terms of Concorde 2009 will reinvigorate the role of the Formula 1 Commission and various other Working Groups. The Formula 1 Commission will henceforth be a key decision-making body for change in Formula 1.

"FOTA's attention will now turn to other issues we believe to be in the long-term interest of F1: racing at the best tracks, in front of the biggest audiences and expanding F1's reach."

FIA president Max Mosley signed the agreement last weekend.

official