F1: Majority Of Teams Have Agreed On Concorde Deal, Says Ecclestone

Formula 1

F1: Majority Of Teams Have Agreed On Concorde Deal, Says Ecclestone

F1 chief executive Bernie Ecclestone says the three top teams are among those on board for a new Concorde Agreement...

Adam Cooper | http://www.speedtv.com | Posted March 24, 2012 Sepang (MAS)

F1 chief executive Bernie Ecclestone (Right) talks with Ferrari team boss Stefano Domenicali. (Photo: LAT Photographic)

Bernie Ecclestone has announced that the majority of the teams have agreed on the terms of a future Concorde Agreement to run from 2013-2020.

Last week in Australia, it became apparent that Ferrari and Red Bull had or were about to sign up to a new deal having left FOTA, which suggested that there could be a major split between between the teams. However, significantly, Ecclestone has named McLaren in addition to those two.

Ecclestone issued a single sentence on the F1 website: "I am very pleased to announce that we have reached commercial agreements with the majority of the current Formula One teams, including Ferrari, McLaren and Red Bull Racing, about the terms on which they will continue competing in Formula One after the current Concorde Agreement expires at the end of this year."

It remains to be seen which teams have not yet agreed, but whatever the case, the news would seem to be positive if it means that there won't be a prolonged debate.

“It’s great news,” Red Bull boss Christian Horner told Sky TV. “Hopefully, it secures the long-term future of the sport with the teams involved. It’s important I think for there to be a Concorde Agreement because it protects the teams through that agreement, as well. Hopefully, it will all be formalized pretty shortly.”

Adam Cooper notched up his 27th season as a racing journalist in 2011. He has written about F1 for SPEED.com since 2005. Follow him on Twitter.