New Concorde agreement signed

It looks like there may be peace in F1 for a while. The press release on the FIA website confirms that FIA President Max Mosley signed the 2009 Concorde Agreement. Full statement from FIA:

Following approval by the World Motor Sport Council, late last night FIA President Max Mosley signed the 2009 Concorde Agreement, heralding a renewed period of stability for the FIA Formula One World Championship.

The Concorde Agreement – a contract between the FIA, F1’s Commercial Rights-Holder and the participating Teams – sets out the basis on which the Teams participate in the Championship and share in its commercial success.

The WMSC has also approved a slightly revised set of stable Sporting and Technical Regulations (to apply from the 2010 Championship onwards), which have been agreed by the FIA and the Teams and which will be published shortly on the FIA’s website.

The new Concorde Agreement, which runs until 31 December 2012, provides for a continuation of the procedures in the 1998 Concorde Agreement, with decisions taken by working groups and commissions, upon which all teams have voting rights, before going to the WMSC for ratification.

In addition, as agreed in Paris on 24 June 2009, the Teams have entered into a resource restriction agreement, which aims to return expenditure to the levels that prevailed in the early 1990s.

With the 2009 Concorde Agreement and the resource restriction agreement in place, the FIA looks forward to a period of stability and prosperity in the FIA Formula One World Championship.

There is no mention if all the teams signed the agreement. Autosport.com however reports that BMW Sauber has been given deadline (August 5) to sign up if they plan to work out some take over plan that would keep the team racing following BMW decision to exit F1 after 2009 season.

4 Comments Post a Comment
  1. zblkhwkNo Gravatar says:

    So what does this mean for next year in regards to spending limits, engine sharing, etc…? Or does this even address that issue? I am getting lost with all the different entities (F1, FIA, FOTA).

  2. zblkhwkNo Gravatar says:

    I love the new look to the site!!!!

    I hope we see a new post once the particulars about spending, rules, etc… are ready for discussion.

    • F1WolfNo Gravatar says:

      thanks ! still few things that do not work the way I want them to work but in general this more less how the site will look from now (for a while :-) )

      I am ready to make the post on the rules and spending, all I need is FIA to finally publish the new regulations. they said “shortly” almost a week ago …

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