Formula 1 teams are talking with Liberty Media, the owners of F1, about a new agreement called the Concorde Agreement, which will start in 2026. This agreement decides how F1 is managed, including rules and finances.
Draft terms of the agreement were sent to teams recently. They will have intense discussions to agree on the terms.
One point of discussion is about Ferrari’s bonus payment. They will keep the bonus, but it will be reduced.
The Concorde Agreement also decides how much money teams get from F1. Teams get a share of F1’s profits and money based on their performance in the championship.
Ferrari gets an extra historic payment because it’s been part of F1 since it started. This payment doesn’t depend on Ferrari’s performance on the track.
Under the current agreement, Ferrari gets at least 5% of the total prize fund, which could be over $1 billion. If the prize fund grows, Ferrari gets more money.
In the new agreement, Ferrari’s bonus payment will be capped at 5%, no matter how much money F1 makes. This means Ferrari will still get a lot of money, but they won’t get extra money if F1 makes more profits.
Some teams think Ferrari shouldn’t get special treatment anymore, but others understand why Ferrari gets the bonus.
Teams got the draft of the new agreement, but they can’t talk about it publicly. Ferrari’s team boss, Fred Vasseur, didn’t comment on the draft when asked.
F1’s CEO, Stefano Domenicali, wants to make sure the new agreement is good for the long term and doesn’t change too much from the current one. They are discussing the details with the teams and will share more information when they can.
