P1racenews AI automatic summary:
Teams, FOM and the FIA will need to agree on the parameters of the new Concorde Agreement by the end of next season.
Mercedes Team Principal Toto Wolff confirmed that the governance of F1 is being reviewed as part of the new Concorde Agreement, with two years left in the current cycle. Negotiations for the new deal are expected to be smoother due to little conflict among teams on major issues. Concerns over sport governance have arisen due to apparent disputes between FOM and the FIA, exemplified by the Andretti entry saga. While progress is being made on the new deal, the focus remains on finding the best decision-making process for the sport’s future. Team Principal Fred Vasseur emphasized that there is still time to negotiate a better deal within the existing framework of the Concorde Agreement. Follow the 2024 F1 calendar to stay updated on all the F1 action easily on your smartphone or PC.
