The FIA has confirmed that a new Concorde Agreement has been signed, following months of negotiations.
The new agreement will run until 2020.
‘This agreement provides the FIA with significantly improved financial means to pursue its regulatory missions and to reflect the enhanced role undertaken by the FIA in the Motor Sport,' read an FIA statement.
‘The parties have agreed a strong and stable sporting governance framework which includes the Formula 1 Group, the FIA and the participating teams. The agreement lays down solid foundations for the further development of the FIA Formula One World Championship.'
‘Now that the agreement is operative, the parties will move...
Full Story »