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F1 teams expect the usual Concorde Agreement talks

MAY 24, 2024

The ‘usual discussions’ surrounding negotiations on a new Concorde Agreement are currently taking place, Christian Horner has revealed.

George Russell, Emilio Romagna GP 2024
© Mercedes

Liberty Media, the holder of F1’s commercial rights, recently sent the proposed draft of the new agreement linking the teams, the FIA ​​​​and Formula 1.

The current one expires next year, and some details are now starting to leak out – such as a lower historic bonus payment for Ferrari, and perhaps an increase from $200 million to $600 million for potential newcomers like Andretti.

Backed by Cadillac (GM), the Andretti camp remains committed to running in 2026, but 1978 world champion Mario Andretti admits the chances are slim.

He told NBC News that he was recently approached in Miami by Liberty Media CEO Greg Maffei.

He said: ‘Mario, I want to tell you that I will do everything I can to ensure that Michael never gets into Formula 1’, claims Andretti. ‘That really floored me.

I didn’t know it was such a personal thing.

Asked whether Andretti’s exclusion from Formula 1 could be part of the Concorde negotiations, Red Bull boss Christian Horner admitted: “I’m sure this will inevitably become a point of contention.

But sometimes, if it ain’t broke, it doesn’t need fixing, he is quoted by formu1a.uno.

However, the main point of contention when negotiating a new Concorde Agreement will always be the share of sports revenue to which the teams are entitled.

It will be the usual discussion: whether the teams want more, said Hoorner. ‘And the promoter wants more. But what we have now works relatively well. I think the foundations 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 often disagrees with Horner, agrees that the basic deal for 2026 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 some things we will discuss – pros and cons – and of course there will be negotiations. But basically 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.

(GMM)