P1racenews AI automatic summary:
It has been confirmed that the ninth-edition of the Concorde Agreement has been signed by F1, the FIA and all 11 teams.
The new Concorde Agreement, covering 2026 to 2030, has been signed by Formula 1, the FIA, and all 11 teams, following an announcement by the FIA.
This agreement acts as a binding covenant between F1, the commercial rights holder, the teams, and the FIA, ensuring stability and governance within the sport.
It mandates financial regulations, basic fees for new teams, and bonuses based on performance, aiming to secure the long-term future of the FIA Formula One World Championship.
The involvement of new teams such as Cadillac and Audi, along with continuity in leadership with Mohammed Ben Sulayem as FIA president, further strengthens the agreement.
Stefano Domenicali, F1 CEO, emphasized the significance of this milestone, highlighting the collaboration and determination among all parties involved.
The Concorde Agreement represents a key milestone in the history of Formula 1, setting the stage for continued growth and innovation in the years ahead.
