The long and twisting process of reaching a new Concord Agreement governing the fundamental commercial arrangements underpinning F1 has taken another step forward with the announcement on Saturday that the FIA and Formula One Group have reached a formal agreement about how to proceed.The FIA confirmed that a Memorandum of Understanding had been signed on Friday between the sporting body and the commercial rights holder, although it stopped short of saying that an actual new Concord Agreement had been finalised at this stage."The Formula 1 Group and the FIA have signed an agreement setting out the framework for implementation of the 2013 Concorde Agreement," the statement...
Full Story »