On 29 July 2008, the ten participating teams formed the Formula One Teams Association (FOTA) to negotiate the terms of the contract. Following a dispute between FOTA and the FIA in the first half of 2009, a new Concorde agreement was signed by Mosley and all the teams, although Sauber, in transition as the majority owner of BMW, recently announced its intention to retire from the sport at the end of the season, thus waiting for a majority stake in the team to be returned to Peter Sauber. before signing. The new agreement provides for the continuation of the provisions of the 1998 agreement and runs until 31 December 2012. At the same meeting of the FIA World Motor Sport Council, a resource limitation programme and revised sporting and technical regulations for the 2010 season were also agreed. [11] Negotiations on the terms of replacement of the 2013 agreement began in 2017 as part of broader discussions on the future of sport, but the deadline for an agreement was extended to 31 October 2019. It has been reported that the agreement is about to be finalised in January 2020. [14] However, it was ultimately delayed due to the COVID-19 pandemic. [15] On the weekend of the 70th Anniversary Grand Prix, Mercedes team principal Toto Wolff explained his dissatisfaction with the terms of the new agreement, which consisted of introducing a budget cap from the 2021 season and changing the distribution of prizes. Wolff believed his team would be the most negatively affected. [16] In response, the deadline for signing the agreement, which had previously been set at August 12, was extended by one week. However, after discussions with Chase Carey, Wolff changed his position and agreed to sign the new agreement. [18] The new Concorde agreement aims to protect the value of established teams by requiring new entrants to pay $200 million, divided equally among 10 existing teams, in exchange for the right to revenue sharing in the first year of competition.

So far, new entries will only receive the prize from the second year of the competition. [19] On 18 August 2020, Ferrari, McLaren and Williams announced that they had signed the new Concorde agreement[20][21][22] while the following day, Formula One announced that the other teams had also signed the agreement. [23] The new agreement, which was the first under liberty Media`s new owners, will cover the 2021 to 2025 seasons and will take effect on January 1, 2021. Ferrari`s argument in favour of special treatment is obvious and can be better summed up by parts of its announcement of the signing of the new agreement: « the only team that has participated every year » in the World Championship with a fan base of « more than 400 million worldwide », and in a home race at Mugello in a few weeks « will be the first team, which has reached the milestone of participation « in 1000 Grands Prix ». The challenges posed by the virus served as a further reminder that something had to change so that after the championship resumed, discussions on a trade deal could also take place. READ MORE: F1 2021 cost cap explained – What has changed and why? On the 27th. In March 2006, the five teams supported by the Grand Prix Manufacturers` Association – BMW Sauber, Renault, Honda, McLaren and Toyota – submitted their applications for the 2008 season and agreed to remain in the sport until 2012. [8] [9] On 14 May 2006, the five GPMA-supported teams signed a Memorandum of Understanding with the Commercial Rights Holders (CVC/Ecclestone), which served as the basis for the next Concorde agreement. [10] As a result, there was no full agreement for the 2008 season, with the memorandum, extensions and agreements with the other individual teams serving as a temporary solution. Teams that received additional payments will still receive them, but this share will be reduced and will go to the other teams – not that either party will discuss the exact distribution; some were not at all willing to talk about the agreement. Liberty Media stressed its desire for a fairer distribution of funds from the moment they took over the sport, and they kept their promises on this front with the first Concorde they negotiated. A new trade deal to reduce financial disparities between teams, create a level playing field and close the performance gap on track is the next part of this process.

A Formula One press release said the new deal « will reduce financial and health disparities between teams, help improve competition conditions and create tighter races on the track that our fans want to see more. » All three teams refused to sign the proposed Concorde agreement, initially with the support of the remaining teams. The 5. However, in September 1996, the new Concorde agreement was signed by all teams except McLaren, Williams and Tyrrell. The agreement was to run from 1 January 1997 to 2002. What remains after the payments described above then forms the pot. Previously, this was divided into « Column 1 » and « Column 2 » payments based on participation (each team receiving an equal share) and championship position (the higher the money, the more a firm team). The effect of the agreements is to promote professionalism and increase the commercial success of Formula One. The most important factor in achieving this was the commitment of the teams to participate in each race, making the sport more reliable for broadcasters who had to invest heavily to acquire the TV broadcast rights.

In return, the teams were guaranteed a percentage of the sport`s commercial revenue. « We are delighted to have reached an agreement between the ten teams by August on plans for the long-term future of our sport, » said Chase Carey, F1 CEO. « All our fans want to see tighter races, wheel-to-wheel action and every team has the chance to get on the podium. Disagreements between the two organizations, which became known by the nom de guerre FISA-FOCA, led to the cancellation of several races. Goodyear threatened to withdraw completely from Formula One, an event that would have been commercially disastrous for the sport, so Ecclestone held a meeting of team principals, Balestre and other FISA representatives at the FIA offices at Place de la Concorde in Paris, France. .