McLaren becomes first F1 team to sign Concorde Agreement

McLaren has become the first Formula 1 team to announce that it has signed the new Concorde Agreement that covers the 2021 to 2025 seasons.

McLaren becomes first F1 team to sign Concorde Agreement

The deadline for early signing, which entitles teams to a financial bonus, was pushed back to this week after some last minute legal fettling. The final deadline for signing, without the bonus, is at the end of this month.

Along with Ferrari, McLaren made it clear several weeks ago that it was happy with progress on the Concorde and was ready to sign, while other teams – notably Mercedes – expressed some dissatisfaction. However it is expected that all teams will sign this week.

In a statement the Woking team noted: “McLaren Racing confirmed this morning that it has become a signatory to the new Concorde agreement that will govern F1 through 2025, reaffirming the team’s long-term commitment to the sport.”

McLaren CEO Zak Brown stressed that the new agreement ticks both the financial and political boxes.

“F1 has taken another important stride on the road to a sustainable, strong future with the new agreement,” said Brown.

“This is the right deal at the right time for the sport, its owners, its teams and, most of all, the fans.

“A more equitable sport is better for everyone: greater balance in the sharing of revenues among all the teams and clearer, simpler governance that cuts through vested interests and puts the sport first.

“This agreement will only make the F1 constructors collectively stronger in the long term.

“The new agreement complements and builds on the great work of F1, the FIA and all the teams during the past few months on the future financial, technical and sporting regulations.

“Everyone has had to give ground for the bigger outcome, which will be a more competitive, exciting and thriving F1 for future generations, which in turn secures a healthy sport for both participants and fans alike.”

Once the Concorde has been signed by all parties the new governance structure will come into effect, and which will streamline the decision-making process because unanimity among the 10 teams will no longer be a requirement for late rule changes.

Read Also:

shares
comments

Related video

Closing speeds to be discussed after Magnussen/Ocon incident

Previous article

Closing speeds to be discussed after Magnussen/Ocon incident

Next article

Steiner takes Haas' dramatic form swing with “pinch of salt”

Steiner takes Haas' dramatic form swing with “pinch of salt”
Load comments
The final throes of Brazil's fleetingly successful F1 team Prime

The final throes of Brazil's fleetingly successful F1 team

Emerson Fittipaldi is better remembered for his Formula 1 world championships and Indianapolis 500 successes than for the spell running his eponymous F1 team. Despite a hugely talented roll call of staff, it was a period of internal strife, limited funding and few results - as remembered by Tim Wright.

Why McLaren's expanding agenda will benefit its F1 resurgence Prime

Why McLaren's expanding agenda will benefit its F1 resurgence

In the 1960s and 1970s, McLaren juggled works entries in F1, sportscars and the Indy 500 while building cars for F3 and F2. Now it’s returning to its roots, expanding into IndyCars and Extreme E while continuing its F1 renaissance. There’s talk of Formula E and WEC entries too. But is this all too much, too soon? Stuart Codling talks to the man in charge.

Formula 1
Oct 17, 2021
How Tsunoda plans to achieve his F1 potential Prime

How Tsunoda plans to achieve his F1 potential

Yuki Tsunoda arrived in grand prix racing amid a whirlwind of hype, which only increased after his first race impressed the biggest wigs in Formula 1. His road since has been rocky and crash-filled, and OLEG KARPOV asks why Red Bull maintains faith in a driver who admits he isn’t really that big a fan of F1?

Formula 1
Oct 15, 2021
The danger of reading too much into F1's clickbait radio messages Prime

The danger of reading too much into F1's clickbait radio messages

OPINION: After Lewis Hamilton responded to reports labelling him 'furious' with Mercedes following his heated exchanges over team radio during the Russian Grand Prix, it provided a snapshot on how Formula 1 broadcasting radio snippets can both illuminate and misrepresent the true situation

Formula 1
Oct 14, 2021
How F1’s pole winner approach undermines drivers Prime

How F1’s pole winner approach undermines drivers

OPINION: Valtteri Bottas is credited with pole position for the 2021 Turkish Grand Prix, despite being beaten in qualifying. This is another example of Formula 1 and the FIA scoring an own goal by forgetting what makes motorsport magic, with the Istanbul race winner also a victim of this in the championship’s recent history

Formula 1
Oct 13, 2021
Turkish Grand Prix driver ratings Prime

Turkish Grand Prix driver ratings

On a day that the number two Mercedes enjoyed a rare day in the sun, the Turkish Grand Prix produced several standout drives - not least from a driver who has hit a purple patch of late

Formula 1
Oct 11, 2021
The hidden factors that thwarted Hamilton's bid for Turkey glory Prime

The hidden factors that thwarted Hamilton's bid for Turkey glory

Starting 11th after his engine change grid penalty, Lewis Hamilton faced a tough task to repeat his Turkish Grand Prix heroics of 2020 - despite making strong early progress in the wet. Instead, his Mercedes teammate Valtteri Bottas broke through for a first win of the year to mitigate Max Verstappen re-taking the points lead

Formula 1
Oct 11, 2021
How pitstops evolved into an F1 art form Prime

How pitstops evolved into an F1 art form

A Formula 1 pitstop is a rapid-fire blend of high technology and human performance. PAT SYMONDS describes how the science of margin gains makes stops so quick

Formula 1
Oct 10, 2021