Impasse nearing end after FIA, F1 teams agree basic outline for new Concorde Agreement

  • Article by: JEROME PUGMIRE , AP Sports Writer
  • Updated: July 27, 2013 - 6:40 AM

BUDAPEST, Hungary — A new contract between motor sport's governing body, Formula One teams and F1's commercial rights holder about the terms of racing looks set to be soon implemented.

F1 is currently racing in the absence of a Concorde Agreement — which sets the framework upon which F1 teams participate in the championship and share in its commercial success — following months of discussions between the organizations.

But FIA and the Formula One Group said in a joint statement Saturday that they have agreed on the basis of a new deal.

"This agreement will come into force upon approval by the respective governing bodies of the signatory parties in the coming weeks," the statement read. "Further information on this agreement will be available after receipt of such approval."

For the new deal to go through, a commitment is needed from all teams, Bernie Ecclestone's Formula One Group and FIA president Jean Todt.

Ecclestone has agreements in place with 10 of the 11 teams about the new commercial terms, with Marussia the odd one out. Meanwhile, Todt has been pushing for FIA to receive a greater share of F1's profits.

"I'm happy, it's good. We're with the FIA and that's it," Ecclestone said. "It's for seven years and what it does is give a little more input from the teams we've been fighting for, concerning regulations. So they can't complain.

"To get this deal done there have obviously been lots of things we've had to sort out. It's longer term and this forms most of the Concorde Agreement for the teams as well, so now we can get the whole lot put to bed."

Todt and Ecclestone have also had to contend with other issues.

Todt is hoping to be elected for a second term at FIA's presidential elections later this year. While Ecclestone has been charged by German prosecutors with bribery over a $44 million payment, placing his future in doubt.

The 82-year-old British billionaire has been under investigation since a German banker was convicted of receiving the payment from Ecclestone in connection with the sale of a stake in F1.

  • get related content delivered to your inbox

  • manage my email subscriptions

ADVERTISEMENT

NY Yankees - LP: M. Pineda 0 FINAL
Toronto - WP: D. Hutchison 2
Detroit - LP: M. Scherzer 3 FINAL
Chicago WSox - WP: C. Sale 6
Chicago Cubs - WP: F. Doubront 5 FINAL
St. Louis - LP: J. Masterson 1
Cincinnati 1 Top 7th Inning
Pittsburgh 3
Minnesota - K. Gibson 6:05 PM
Baltimore - C. Tillman
Philadelphia - J. Williams 6:10 PM
NY Mets - B. Colon
Miami - J. Cosart 6:10 PM
Atlanta - A. Harang
Boston - A. Webster 6:10 PM
Tampa Bay - J. Odorizzi
Cleveland - T. Bauer 6:10 PM
Kansas City - J. Shields
Detroit - K. Ryan 6:10 PM
Chicago WSox - C. Bassitt
Texas - R. Ross Jr. 6:10 PM
Houston - S. Feldman
Colorado - T. Matzek 7:10 PM
Arizona - V. Nuno
Chicago Cubs - T. Wada 7:15 PM
St. Louis - M. Gonzales
Los Angeles - Z. Greinke 7:40 PM
San Diego - I. Kennedy
Milwaukee - M. Fiers 8:05 PM
San Francisco - J. Peavy
Oakland - J. Samardzija 8:05 PM
LA Angels - C. Rasmus
Washington - S. Strasburg 8:10 PM
Seattle - R. Elias
Green Bay 9/4/14 7:30 PM
Seattle
BYU 35 FINAL
Connecticut 10
(6) Jacksonville St 7 FINAL
(8) Michigan State 45
Bowling Green 31 FINAL
Western Ky 59
TX-San Antonio 27 FINAL
Houston 7
Colorado State 31 FINAL
Colorado 17
UNLV 13 FINAL
Arizona 58
Penn State 26 FINAL
UCF 24
Troy 10 FINAL
UAB 48
(7) UCLA 28 FINAL
Virginia 20
Western Mich 34 FINAL
Purdue 43
(5) Ohio State 34 FINAL
Navy 17
Appalachian St 14 FINAL
Michigan 52
Ga Southern 23 FINAL
NC State 24
Boston College 30 4th Qtr 4:15
Massachusetts 7
West Virginia 17 3rd Qtr 11:25
(2) Alabama 20
Rice 10 3rd Qtr 5:01
(17) Notre Dame 28
(10) South Dakota St 18 3rd Qtr 4:58
(24) Missouri 28
Fla Atlantic 7 3rd Qtr 10:55
(22) Nebraska 31
California 31 3rd Qtr 4:55
Northwestern 7
Marshall 28 3rd Qtr 10:58
Miami-Ohio 10
UC Davis 0 3rd Qtr 15:00
(11) Stanford 38
Arkansas 21 3rd Qtr
(6) Auburn 21
(16) Clemson 7 1st Qtr 9:04
(12) Georgia 0
Liberty 5:00 PM
(23) North Carolina
Ohio U 5:00 PM
Kent State
Louisiana Tech 6:00 PM
(4) Oklahoma
Idaho 6:00 PM
Florida
Stephen F Austin 6:10 PM
(20) Kansas State
Fresno State 6:30 PM
(15) USC
Southern Miss 6:30 PM
Miss State
Texas-El Paso 7:00 PM
New Mexico
North Texas 7:00 PM
Texas
(1) Florida State 7:00 PM
Oklahoma State
(14) Wisconsin 8:00 PM
(13) LSU
South Dakota 9:30 PM
(3) Oregon
(25) Washington 9:30 PM
Hawaii
Utah State 8/31/14 6:00 PM
Tennessee
SMU 8/31/14 6:30 PM
(10) Baylor
Miami-Florida 9/1/14 7:00 PM
Louisville
Arizona 9/4/14 7:00 PM
TX-San Antonio
Pittsburgh 9/5/14 6:00 PM
Boston College
Washington St 9/5/14 9:30 PM
Nevada
SMU 9/6/14 11:00 AM
North Texas
Fla Atlantic 9/6/14 11:00 AM
(2) Alabama
Buffalo 9/6/14 11:00 AM
Army
(24) Missouri 9/6/14 11:00 AM
Toledo
Arkansas State 9/6/14 11:00 AM
Tennessee
(8) McNeese State 9/6/14 11:00 AM
(22) Nebraska
Central Mich 9/6/14 11:00 AM
Purdue
Akron 9/6/14 11:00 AM
Penn State
Western Ill 9/6/14 11:00 AM
(14) Wisconsin
(20) Kansas State 9/6/14 11:00 AM
Iowa State
(4) Oklahoma 9/6/14 11:00 AM
Tulsa
Western Ky 9/6/14 11:00 AM
Illinois
SC State 9/6/14 11:30 AM
(16) Clemson
Navy 9/6/14 12:00 PM
Temple
UAB 9/6/14 1:00 PM
Miss State
South Alabama 9/6/14 1:00 PM
Kent State
New Mexico St 9/6/14 1:00 PM
Georgia State
Colorado 9/6/14 2:00 PM
Massachusetts
Fresno State 9/6/14 2:00 PM
Utah
(1) Eastern Wash 9/6/14 2:00 PM
(25) Washington
(15) USC 9/6/14 2:30 PM
(11) Stanford
Ohio U 9/6/14 2:30 PM
Kentucky
Middle Tennessee 9/6/14 2:30 PM
Minnesota
Northern Ill 9/6/14 2:30 PM
Northwestern
Missouri State 9/6/14 2:30 PM
Oklahoma State
Ball State 9/6/14 2:30 PM
Iowa
Maryland 9/6/14 2:30 PM
So Florida
Eastern Mich 9/6/14 3:00 PM
Florida
Georgia Tech 9/6/14 3:00 PM
Tulane
(18) Ole Miss 9/6/14 3:30 PM
Vanderbilt
Old Dominion 9/6/14 5:00 PM
NC State
(8) Michigan State 9/6/14 5:30 PM
(3) Oregon
(19) Arizona State 9/6/14 6:00 PM
New Mexico
Louisiana Tech 9/6/14 6:00 PM
Louisiana
San Jose St 9/6/14 6:00 PM
(6) Auburn
East Carolina 9/6/14 6:00 PM
(9) So Carolina
Duke 9/6/14 6:00 PM
Troy
Idaho 9/6/14 6:00 PM
ULM
(17) Sam Houston St 9/6/14 6:30 PM
(13) LSU
Michigan 9/6/14 6:30 PM
(17) Notre Dame
Lamar 9/6/14 6:30 PM
(21) Texas A&M
Northwestern St 9/6/14 6:30 PM
(10) Baylor
BYU 9/6/14 6:30 PM
Texas
Citadel 9/6/14 6:30 PM
(1) Florida State
San Diego St 9/6/14 7:00 PM
(23) North Carolina
Virginia Tech 9/6/14 7:00 PM
(5) Ohio State
Memphis 9/6/14 9:00 PM
(7) UCLA
Colorado State 9/6/14 9:15 PM
Boise State
Air Force 9/6/14 9:15 PM
Wyoming
Oregon State 9/6/14 9:30 PM
Hawaii
Texas Tech 9/6/14 10:00 PM
Texas-El Paso
Colorado 0 2nd Half 5:00
Seattle 1
New England 2 1st Half 5:00
Toronto FC 0
Columbus 6:30 PM
Montreal
FC Dallas 7:30 PM
Chicago
Real Salt Lake 9:30 PM
San Jose
Portland 9:30 PM
Vancouver FC
Ottawa 10 FINAL
Montreal 20
Winnipeg 8/31/14 3:00 PM
Saskatchewan
Toronto 9/1/14 12:00 PM
Hamilton
Edmonton 9/1/14 3:30 PM
Calgary
Brt Columbia 9/5/14 6:30 PM
Ottawa
Calgary 9/6/14 6:00 PM
Edmonton
Hamilton 9/7/14 12:00 PM
Montreal
Saskatchewan 9/7/14 3:00 PM
Winnipeg
Chicago 6:00 PM
Indiana
Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

 
Close