Idman.biz
The press service of "Formula 1" has announced the signing of a new, the ninth Concorde Agreement.
Idman.Biz reports that the new agreement will be valid until 2030.
This agreement ensures complete alignment between the sport's key stakeholders - "Formula 1" as the owner of commercial rights, the FIA as the governing body of global motorsport, and the "Formula 1" teams - on the fundamental commercial and governance structures that will underpin the next five years of the sport's growth.
"Today is a very important moment for Formula 1. As we celebrate the seventy-fifth anniversary of this incredible sport, we are proud to write the next chapter in our long and remarkable history. This agreement secures the long-term future of Formula 1, and combined with the arrival of Audi and Porsche into F1, has never been better. I would like to thank FIA President Mohammed Ben Sulayem and all the teams for their collaboration, their efforts and their great commitment. This is very great.
We have plenty to be proud of, but we are also focused on what is coming next for Formula 1 and the excitement and potential that it has", said Stefano Domenicali, President and CEO of Formula 1, at the signing ceremony.
