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All teams commit to F1 until 2025; Concorde Agreement signed
F1 has confirmed all ten teams are now signed up for 2021 and beyond, with the Concorde Agreement negotiations now concluded.All ten Formula 1 teams have committed to the new Concorde Agreement from 2021-2025, after McLaren, Ferrari & Williams confirmed they signed the new deal on Tuesday. The Concorde Agreement is the commercial contract between the teams and the sport, including terms such as the prize money structure and funding that each team receives every year. The current Agreement expires at the end of this season, and the new one is the first negotiated by Liberty Media as they seek to create a more level playing field in the sport. The new Concorde Agreement secures the immediate...
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