2023-05-06 12:12:00
In Formula 1, the signs point to an extension of the basic contract, which is currently valid until 2025. This Concorde Agreement was signed by the ten teams in August 2020. Among other things, it regulates the distribution of income and prize money between the racing teams. Rights holder Liberty Media now emphasized in Miami that it was time to sit down with Red Bull, Ferrari, Mercedes and Co. and the International Federation (FIA).
“We should get together while the iron is hot,” said Liberty Media CEO Greg Maffei. “I think there is a consensus between the FIA, the teams and us that now is a good time to do so.” And team officials agreed that it was in everyone’s interest to extend the contract sooner rather than later.
“There is a clear direction as to what goals and ideas we want to have in terms of technical, sporting and financial conditions in the future,” said Red Bulls Christian Horner. “Formula 1 has never been in a stronger position. I think Liberty has done a great job. We’re seeing new markets, new growth, new fans and new demographics among the fans.”
McLaren’s Zak Brown also sees no need to make major changes to the agreement. According to him, however, there should be fine adjustments. “The digital age has evolved since we signed the agreement. That needs to be discussed. But I think for the most part it’s a solid agreement. It works.” Brown would also prefer to see the paper signed sooner rather than later because of the stability of the sport. (apa/reuters)
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