The Formula 1 Group and the FIA have finally signed the long-overdue Concorde Agreement meaning that they are just one step away from an official tripartite agreement binding the teams, the regulatory body and the commercial rights holders to a financial and regulatory series called Formula 1. What grand times, what good news…what’s the FIA’s new cash infusion going to be used for?
FIA president Jean Todt said:
'The agreement reached by the FIA and the Formula 1 Group in July 2013, setting out the framework for implementation of the Concorde Agreement for the period 2013 – 2020, has now come into force, following the approval of the respective governing bodies of the signatory...
Full Story »