Concorde Agreement F1 Mercedes
Home F1 ” Concorde Agreement F1: Mercedes to sign the agreement, to commit only for one year, wolff report was requested at the press conference of team leaders how close Mercedes is to the signing of the terms of the new agreement Concorde – the agreement that governs F1 – with the deadline for this was set for August 12. The Silver Arrows boss responded that he was not ready to sign the agreement in its current form, saying it did not reflect both Mercedes and his driver Lewis Hamilton`s contribution to the sport over the past decade. Disagreements between the two organizations, known as fiSA-FOCA, led to the cancellation of several races. Goodyear threatened to withdraw completely from Formula 1, an event that would have been commercially disastrous for the sport, and ecclestone organized a meeting of team leaders, Balestre and other FISA representatives in the FIA offices, Place de la Concorde, Paris, France. On 19 January 1981, all parties present signed, after thirteen hours of negotiations, the first Concorde agreement, named after the Paris Square where the talks were held. The question of whether Mercedes will continue to be a designer beyond 2021. You still have to sign the Concorde agreement; Liberty Media`s deadline for signing is now. The cultural heritage agreement lasts five years between 2021 and 2025. Toto Wolff has hinted that he is much closer to signing the Mercedes team until the Formula One trade deal than last week. According to several team leaders, this could not be the case, as the agreement is not only completely transparent, but also standard in all teams and prohibits the holder of commercial rights from concluding secret transactions. The veto and the Ferrari bonus are clearly formulated – the first in the governance part of the agreement and the second in the commercial field. The agreements promote professionalism and increase the commercial success of Formula 1.