Despite early efforts to secure the Concorde Accords swiftly, recent months have seen negotiations falter.
The FOM had initially sought to quickly secure new commercial contracts, namely the celebrated Concorde Accords, for the 2026-2030 period.
However, in recent months, the agreement that binds F1, the teams, and the FIA appears to have stalled.
Stefano Domenicali, CEO of F1, denies any discord that might hinder these agreements, particularly regarding revenue distribution.
“I would say, as we mentioned last time (during the first quarter review), that all is well because we have the right conditions, the right relationship with the teams. And as you know, the Concorde Agreement is divided into three main pillars. One is financial, another commercial, and the last relates to governance. Everything is progressing very, very well.”
“As you know, we are not yet in a hurry to finalize this important agreement (there are 15 months left), but everything is proceeding smoothly as planned.”
“And it’s truly fantastic because the relationship with the teams, with the FIA, and with all other stakeholders is very good at the moment. So, we are working and progressing in the right way.”
“And of course, we are focused on trying to maximize the benefits to have as much joint commercial activity with all the teams as possible and to ensure that what we are about to sign will be the right agreement in terms of the distribution of revenues between the teams and the commercial rights holder, but all is well up to now.”
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Concorde Accords Delayed; FOM Teams FIA at Standstill Concorde Accords Delayed; FOM Teams FIA at Standstill
