16/03/2025
NEWS STORY
F1 has confirmed that the 11 teams that will contest the 2026 World Championship have signed the new Concorde Agreement.
The document, first established in 1981, is the document that essentially binds the sport together, not only detailing the terms by which the teams must compete but also their share of the prize money.
Over the years it has been the subject of much contention, and on more than one occasion almost led to the break-up of the sport.
However, with Liberty Media ensuring that the F1 goose continues to lay its golden eggs, ensuring that even under-performing teams are handsomely rewarded financially, those days are long gone and everyone plays ball.
"Formula 1 can confirm that all teams have signed the 2026 Concorde Commercial Agreement, which secures the long-term economic strength of the sport," said F1 in a statement this morning.
"Formula 1 has never been in a stronger position and all stakeholders have seen positive benefits and significant growth. We thank all the teams for their engagement during this process to reach the best outcome for the sport."
However, thus far only the commercial terms elements of the agreement have been agreed, leaving the sport's governance yet to be rubber- stamped.
"The governance aspect of the 2026 Concorde Agreement between FIA and FOM is nearing completion," said the FIA in response to today's news.
There remain fears that the long-standing 'difference of opinion' between the FIA, under Mohammed ben Sulayem and F1 could reignite, as he seeks to establish his own authority on the sport and just about every element of it.
While it is good news that the commercial terms have been agreed, especially when one considers the problems in the past, it is of concern that now it is the FIA that is dragging its heels.
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