On January 19, 2005, Ferrari announced that it had signed an extension of the previous agreement, which expires on December 31, 2012. [4] On 18 July 2005, Red Bull also signed an extension[5] as well as Jordan/Midland two days later. [6] On December 7, 2005, Williams was the fourth team to sign an extension of the agreement. [7] The agreement is named after the Paris square where the talks took place. The Concorde Agreement is a contract between the Fédération Internationale de l`Automobile (FIA), the Formula 1 teams and Formula One Group, which defines the conditions under which the teams participate in the races and will distribute television revenues and prizes. In fact, there were eight separate concorde agreements, all the conditions of which were kept strictly secret: the first in 1981, others in 1987, 1992, 1997, 1998, 2009, 2013 and the current agreement for 2021. The secret was broken, however, by famed race journalist Forrest Bond when the 120-page concorde deal from 1997 to 1997 was published by RaceFax in late 2005. [1] The differences 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 catastrophic for the sport, so Ecclestone held a meeting of team leaders, Balestre and other FISA representatives at the FIA offices, Place de la Concorde, Paris, France.

On 19 January 1981, after thirteen consecutive hours of negotiations, all the parties present signed the first Concorde Agreement, named after the Paris square where the talks took place. However, Hamilton`s comments about his own future could be more about the confidence in setting up some kind of deal that Mercedes sees inside the F1 tent and not outside the tent. So I read this analysis which, in fact, analyzes very little. I think these agreements are still secret? Such a deal sweeps away speculation that some teams, like Mercedes, could not stay. “The agreement will ensure a long-term sustainable future for Formula 1 and, combined with the new rules announced in October 2019 and coming into force in 2022, reduce financial and differentiated disparities between teams, improve the conditions of competition and create tighter races on the course, which fans want to see more. “Earlier this year, we said the concord agreement would take an extra time to agree due to the fluidity of the pandemic and we are delighted to have reached an agreement of the ten teams on plans for the long-term future of our sport by August. The new agreement is a big step in the right direction for healthier sport, and while the teams are all contributing to it, Liberty deserves real recognition for the opportunity to do so. The agreement was created to contain these two and prevent manufacturers who now use turbo engines from fleeing with the championship, but since then it has become the main method of anchoring in a legal document the rules used by the FIA to regulate Formula 1, as well as the financial relationship between the teams and the promoter.

“The new Concorde agreement, in combination with the regulations for 2022, will lay the foundation for achieving this and creating an environment that is both financially fairer and fills in the gaps between the teams on the circuit.” “This deal will only make F1 designers stronger in the long run collectively…